UPDATED CHART
- SILVER Negative divergence shown below has worked well for bears of silver.
- Now the support may come around 37.80 level.
NEGATIVE DIVERGENCE
- Possible rising wedge pattern in silver.
- Pattern will be valid if the resistance line is not broken by bulls.
- If today's high is not taken out we may see a correction towards the support line of the wedge.
- Hour chart is also developing negative divergence.
- If new high's are not made silver may start to correct soon.
- ES TRIANGLE BREAKDOWN
CHART-III
CHART-II
CHART-I
- ES continue to move inside the triangle pattern.
- Price has given a whipsaw on the downside and back into the triangle pattern.
- Price continue to stay below the cloud which favors bears. But for bears price has to close the hour below 1302 level.
- For bulls price has to break above the cloud and sustain above 1315.50 level.
- BULL FLAG OF GBPUSD
CHART-II
- Nifty continue to stay below 50 Hour Moving average.
CHART-I
- For bears they have to break and stay below 5563 level.
- For bulls they should break above 50 Hour moving average. But for them the resistance line and 5653 level may act as tough resistance.
- As of now both sides have equal chance. But price is close to the apex of a triangle like pattern. So nifty will take a clear direction soon.
- NIFTY WEEKEND UPDATE
- SBI is trading near its Resistance level.
- Price is showing overbought readings for quite sometime.
- If the resistance levels shown are not taken out soon we may start to see a correction.
- NIFTY WEEKEND UPDATE
- Last week's up move on US Dollar was resisted @ its 200 DMA.
- Ascending Triangle pattern is still intact.
- First attempt to breakout of the ascending triangle was stopped by the 200 DMA.
- Next attempt may be successful But if price dips below 74.405 then pattern will become weak.
- S&P 500 WEEKEND UPDATE
- My New Blog on FOREX MARKET--FOREX TECHNICAL ANALYSIS
- SPX Weekly and daily chart shows a neutral to negative view going into next week.
- Correction from 1356 is taking a pause now. Breaking last week's low 1306.51 will extend correction.
- Daily close above 1331 will favor bulls for a retest of 1356 level again.
- My new blog on Forex Market -FOREX TECHNICAL ANALYSIS
- Nifty is still stuck in between 50 and 200 DMA.
- But indicators like MACD are suggesting some weakness in daily time frame.
- Price just managed to close below 20 week moving average.
- If price continue to stay below 20 week moving average we may see an extended correction.
- MACD is about to trigger a sell. Bars have reached near zero. So if price confirms by breaking the recent low(5496) we might see good down move in favor of bears.
- On the contrary if the low 5496 is held and 200 DMA is not broken then we might see another pause week without any major action.
