Sunday, 21 August 2016

Weekly Updates (22-08-2016)


NIFTY

Back to back Buying pressures at the Resistance zone could only signal one thing – weakness, but unless the Resistance level is tested, short is not confirmed.

Key Levels to look for:

Resistance 1 – 8888
Resistance 2 – 9000

Support 1 –  8400
Support 2 –  7927


CRUDEOIL

Nice up move last week, but it cannot last, since it was not from a proper levels of Support. This week, Crude is expected to be neutral. Since the Resistance / Support is still left untested, we could patiently wait for any big moves.

Key Levels to look for:

Resistance 1 – 3425
Resistance 2 – 3442

Support 1 –  3110
Support 2 –  2631


GOLD

Chances are, Gold might reach the Resistance this week, @ 31,939 levels. No big moves are expected in gold, since the prices are still in preparation state.

Key Levels to look for:

Resistance 1 – 31,939
Resistance 2 – 32,500

Support 1 –  30,669
Support 2 –  29,852


SILVER

Silver has closed below the nearest swing point (@ 45,500 level), also, there is a hint of selling pressure in every recent candle. Silver signals that the price might go down this week to its first Support level, 44,000

Key Levels to look for:

Resistance 1 – 46,200
Resistance 2 – 48,445

Support 1 –  44,000
Support 2 –  43,000