Weekly Updates (27-06-2016)
NIFTY
The last selling candle is a high wave like candle, which means
that still the battle between buyers and sellers is intact. As you could see,
the Support and Resistance zones in the chart are at a pretty close range,
which means that the direction of the trend is still muddled. It’s better to
wait this week and see what Nifty has to say, and say clearly!
Key Levels to look for:
Resistance 1 – 8319
Support 1 – 7723
CRUDEOIL
Crude is still under the dominance of consolidation, meaning
that we should wait further to pinpoint on the reversal. So for now, it’s safe
to assume that Crude is still long, but this week, it might give a pull back up
to the Support level, as the last week was a shooting star.
Key Levels to look for:
Resistance 1 – 3442
Support 1 – 3115
GOLD
The psychological Support of 30,000 did act as Support last week
when price fell, and now the Gold has successfully breached the major double
top Resistance which is a strong indication that the Gold is going to continue
with its uptrend in the near future.
Key Levels to look for:
Resistance 1 – 32,800
Support 1 – 30,500
SILVER
Silver has still not confirmed any buying pressure in the near
Future, and still it’s at the Double top range. This week Silver might give a
pullback up to 41,000 range, a psychological range. If it is going up from the
current level directly, there is a Resistance nearby, at 43, 728 level, where
the price might have a struggle, again.
Key Levels to look for:
Resistance 1 – 43,000
Support 1 – 41,370
NIFTY
The last selling candle is a high wave like candle, which means
that still the battle between buyers and sellers is intact. As you could see,
the Support and Resistance zones in the chart are at a pretty close range,
which means that the direction of the trend is still muddled. It’s better to
wait this week and see what Nifty has to say, and say clearly!
Key Levels to look for:
Resistance 1 – 8319
Resistance 2 – 8390
Support 1 – 7723
Support 2 – 7700
CRUDEOIL
Crude is still under the dominance of consolidation, meaning
that we should wait further to pinpoint on the reversal. So for now, it’s safe
to assume that Crude is still long, but this week, it might give a pull back up
to the Support level, as the last week was a shooting star.
Key Levels to look for:
Resistance 1 – 3442
Resistance 2 – 3500
Support 1 – 3115
Support 2 – 3010
GOLD
The psychological Support of 30,000 did act as Support last week
when price fell, and now the Gold has successfully breached the major double
top Resistance which is a strong indication that the Gold is going to continue
with its uptrend in the near future.
Key Levels to look for:
Resistance 1 – 32,800
Resistance 2 – 35,074
Support 1 – 30,500
Support 2 – 28,410
SILVER
Silver has still not confirmed any buying pressure in the near
Future, and still it’s at the Double top range. This week Silver might give a
pullback up to 41,000 range, a psychological range. If it is going up from the
current level directly, there is a Resistance nearby, at 43, 728 level, where
the price might have a struggle, again.
Key Levels to look for:
Resistance 1 – 43,000
Resistance 2 – 43,728
Support 1 – 41,370
Support 2 – 38,270
