- Gold one hour chart shows triangle breakdown.
- Weekly is testing crucial support levels as shown in chart 2 and 3. Gold bears need a lower close for the weekly candle for bigger falls to happen. Good up move possible if price finds support at the current levels.
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GOLD Hourly Triangle
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- Gold daily is near crucial support zone.
- 4 Hour chart is acting as resistance. For a bounce to happen price needs to stay above this cloud..
- One hour chart shows a triangle pattern. breakout from this pattern may give bigger direction for gold.
- Reliance bulls struggling to cross the golden ratio.
- Price for now is in a range. Crucial levels are 1012 and 1019 on the up side and 985 and 972 levels. Week close above 1012-1019 level may give 1070 levels.
- Weekly cloud too is crucial for bulls to keep the structure intact. Closing back into the weekly cloud will favour bears for bigger falls.
- ES Daily moves back above 200 Day SMA.
- Week took support at 50 Week SMA.
- Immediate resistance at daily cloud. close above the cloud may give new high's for ES.
- 50 Day SMA 20 SMA and 38.2% Fib levels are possible support levels. Week needs a close above 20 Week SMA for bigger up moves to happen. Last attempt to close above 20 SMA Failed. Weekly candle looks bears, If price struggles to cross above 20 Week SMA correction is possible.
- Apple has breached the rising support line from 73 levels, But as weekly candle shows price managed to leave a long lower shadow which suggests possible support at this zone.
- 200 SMA in daily chart is crucial as bulls managed a bounce from this line. Last chart also shows a range in weekly time frame. Bears need to stay below this range for bigger falls to happen.
- ES Daily shows price up moves struggling to cross or close above 200 Day sma.
- Week is trying to stay above 50 Week sma. Weekly close below this line will extend gains for bears. Bulls need a close above 200 day SMA.
