On The Brim
I had mentioned last week about a possibility of a resistance between 5416-5465. On 14th July, NIFTY touched 5453 and started weakness. How long at the maximum it can go from here? Look at the major Chart pattern between trend lines TT and BT. You can very well see that from Nov 2009, it is adhering to TT and BT. Now that it is too close to TT and it can any time start its swing to BT or below. However, a breakout above TT can take it to over all time high. But as it stands now, that is a remote possibility.
At present all Daily, Weekly and Monthly signals are Bullish.
Unless 2000 NN signal confirms, it should be considered as Bullish.
Other markets:
DOW: Dow future’s 4 and 8 Hrs charts have charts have already gone to SHORT mode. The daily chart is too close to enter the bearish zone. The Weekly and
Euro: In LONG mode from 15th Jun onwards.
Commodities:
MCX Gold: In SHORT mode from 10th Jun 2010.
MCX Silver: in SHORT mode from 16 Jul 2010.
MCX Copper: In SHORT mode from Jul 16, 2010
