S&P 500 Futures chart analysis

 

• ES 4 hour chart shows strong support zone
• Daily chart continues to hold above 200 Day SMA.
• Hour chart will gain momentum for bulls if price manages to stay above 200 Hour SMA.

GOLD Trend analysis

• Gold 4 chart shows price trying to move back into the descending triangle pattern.
• Daily chart shows Bulls trying to protect 200 Day SMA
• Weekly chart shows weakness at 100 Week SMA. More strength for gold only if price is able to move back above 100 Week SMA

SILVER Support and Resistance levels

 

• Silver Weekly chart shows previous support acting as resistance
• Silver daily chart has 200 SMA as resistance. Price unable to stay above 200 SMA.
• Crucial support for Silver bulls is the daily cloud. Bulls must sustain above the cloud to avoid bigger falls.

Triangles of RELIANCE INFRA

 

 

• Strength above 499
• Further weakness below 465 and 458.
• Closing outside the smaller triangle in daily chart may also give the next direction.
• Stock is moving in a bigger weekly triangle. within this Triangle price may move up towards the falling resistance line. 

GOLD Weakness at Key resistance levels

• Weakness in weekly chart at 100 Week SMA
• More weakness if 200 Day sma is broken
• 4 Hour chart is showing a possible Topping pattern. Bulls need to get back above this pattern to avoid bigger falls.

S&P 500 Futures Testing support levels

• ES Daily testing 200 SMA again
• For Bulls of ES The support levels shown in 4 Hour chart needs to be held.
• One hour is trending below the cloud.

Bank Nifty Bearish PIN BAR

• Bank nifty Month chart yet to show any weakness.
• Weekly chart has been diverging for quite sometime without any meaningful correction
• Daily chart has given a Pin Bar Reversal candle which may be the start of a correction. This candlestick pattern needs to be confirmed with bearish price action.