Weekly Updates (08-08-2016)
NIFTY
Still have not reached our 8888 Resistance levels, Nifty signals
weakness in buying with a neutral candle. Wait for it to take the resistance
level.
Key Levels to look for:
Resistance 1 – 8888
Support 1 – 8700
CRUDEOIL
Neutral candle in crude is not indicating any reversal in trend,
since it’s not at Support. It just means that the trend is pausing a bit. Wait
for it to come up to the support.
Key Levels to look for:
Resistance 1 – 2884
Support 1 – 2544
GOLD
Gold is totally between support and resistance, and it’s
preparing for a big move in future. As far as now, it’s still in preparation
state. Might retest the 32,000 resistance tis week.
Key Levels to look for:
Resistance 1 – 31,974
Support 1 – 30,669
SILVER
The piercing line bearish is occurring inside a range. So, we
cannot expect any fall for silver any time soon. 46,000 is the nearest Support
for silver. Might test the support this week.
Key Levels to look for:
Resistance 1 – 48,611
Support 1 – 47,100
NIFTY
Still have not reached our 8888 Resistance levels, Nifty signals
weakness in buying with a neutral candle. Wait for it to take the resistance
level.
Key Levels to look for:
Resistance 1 – 8888
Resistance 2 – 9000
Support 1 – 8700
Support 2 – 7927
CRUDEOIL
Neutral candle in crude is not indicating any reversal in trend,
since it’s not at Support. It just means that the trend is pausing a bit. Wait
for it to come up to the support.
Key Levels to look for:
Resistance 1 – 2884
Resistance 2 – 3425
Support 1 – 2544
Support 2 – 2355
GOLD
Gold is totally between support and resistance, and it’s
preparing for a big move in future. As far as now, it’s still in preparation
state. Might retest the 32,000 resistance tis week.
Key Levels to look for:
Resistance 1 – 31,974
Resistance 2 – 32,500
Support 1 – 30,669
Support 2 – 29,852
SILVER
The piercing line bearish is occurring inside a range. So, we
cannot expect any fall for silver any time soon. 46,000 is the nearest Support
for silver. Might test the support this week.
Key Levels to look for:
Resistance 1 – 48,611
Resistance 2 – 50,391
Support 1 – 47,100
Support 2 – 45,598
