ES Hour chart analysis

• ES 30 Minutes and one hour continues to favour bulls.
• No signs of weakness until price stays above 30 Minutes cloud.

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GOLD Nearing Resistance zone

• Two gold charts of Weekly time frame shows price nearing crucial resistance zone. Second chart shows the resistance line drawn from Middle of Year 2013. Since its a long term pattern a breakout or breakdown from this will be significant for Gold. Price is nearing the apex of the pattern. If the resistance line stops the up move then price is likely to remain in this pattern for some more months Before a breakout or breakdown can happen. Resistance zone is around 1360 levels.

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ES Weekend update

• Weekly chart shows the hope and despair of bears. Bears are shown hope in those circles only to be batted by bulls.
• Month chart shows one of the biggest gains in more then a year. And Month is only Half done.
• The Hour chart shows the cloud base in action. Weakness in Hour was arrested at the cloud base followed by a good long trade.

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TESLA Triangle and Month Support zone

• TESLA Daily chart shows a triangle shaped contraction. 
• Month chart shows bullish candlestick formation with crucial long term support at 291 levels.
• Since Month is favouring bulls a bullish breakout from the Triangle is likely to be a safe trade. If price falls below 305 then stock can fall towards 292 levels.  Above 347 stock can move towards 360 and 380 levels.  

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ES Chart analysis before opening bell

• 30 Minutes trend has snapped.
• 60 Minutes cloud base is giving support for now. For bears the cloud base must break for bigger gains to follow.
• Daily time frame is looking good so far for bears. Day need to close like this to confirm weakness. 

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ES Chart analysis after closing bell

• Daily candle with its upper shadow is showing some weakness But the trend in 30 Minutes and one hour is yet to snap. Bigger gains for bears only if the trend supporting cloud and moving average gets broken. 

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NIFTY Weekly Chart Analysis

• Nifty broke through the ceiling once again and is likely to make another swing high in one or 2 weeks time.
• MACD Shows triple negative divergence.
• If the resistance line drawn in last chart works the negative divergence can start working. One has to note this is a likely scenario against the prevailing strong up trend.

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