EURUSD Trend update

 

• For now the pair is not trending, Instead its in a broad range between 1.04 levels and 1.14 levels. Pair will favour bears on closing below 50 day SMA.

ES Chart update

• 200 SMA Crucial for bulls in One hour time frame.
• 4 Hour chart shows price staying above the neck line. Bulls can reach newer high's if price continues to stay above this zone.

NIFTY Chart analysis

• Nifty bounce continues but price is approaching crucial resistance levels. 2nd chart shows the falling resistance line and 100 Day SMA. Bulls simply needs to sustain above these two level son closing basis to weaken the other bearish possibilities shown in first and last charts.

CRUDE Oil chart update

• Crude oil 4 hour chart shows price holding above crucial support zone. Weakness only if price sustains below this zone.
• More strength for bulls if price sustains above 200 Day SMA.

TATA Steel Chart update

 

 

• Tata steel bearish price action. Staying below 50 day SMA will continue to favour bears. Next level to watch is 333. Minor strength if price is able to get back and close above 50 day SMA. Bigger falls possible if 333 is not held.
• Weekly candle looks bearish. Bulls need to change the structure of the candle but they have only one session. Price if closes at the current levels or lower will lead to more falls in the coming weeks. 
• Chance for bulls to come back is above 351, More strength for bears below 333.

ES Chart update

• ES one hour and 4 Hour chart shows bulls hanging on to crucial support resistance zone. Bears need to close below this zone for bigger correction to follow.

Nifty support and resistance levels

• Price is moving up steadily but its approaching crucial resistance zone 8505 - 8550. Immediate support zone is at 8332 level.
• RSI is has not reached overbought zone and price too yet to shown bearish price action.

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