May 30, 2010

DOW JONES TECHNICAL ANALYSIS FOR LAST WEEK

DOW JONES DAILY AND HOURLY VIEW

  • INVERTED HEAD AND SHOULDERS PATTERN IN THE HOURLY CHART IS YET TO SHOWS IT'S POTENTIAL.
  • THE DOWN SLOPING CHANNEL IS VIOLATED AND NOW DOW HAS AN ASCENDING TRIANGLE LIKE FORMATION TO BREAK OUT.
THANK YOU

APPLE DIVERGENCE AND RESISTANCE IN HOURLY CHART

APPLE RESISTANCE AND DIVERGENCE
  • APPLES RESISTANCE LINE SEEMS TO BE STRONG IN THE HOURLY CHART.
  • COMBINED WITH THE NEGATIVE DIVERGENCE THE STOCK MAY COME DOWN FROM THE CURRENT LEVELS IN THE COMING DAYS.
  • ONLY A STRONG MOVE ON THE UPSIDE AND A CLOSE ABOVE THE TREND LINE MENTIONED ON THE ABOVE CHART CAN BRING ABOUT A STRONG UPTREND.
THANK YOU

ORACLE CORP HOURLY CHANNEL AND WEEKLY VIEW

ORACLE CORPORATION WEEKLY AND DAILY

  • WEEKLY CHART OF ORACLE IS SHOWING A KIND OF RISING WEDGE. BUT THE CURRENT CORRECTION HAS MET WITH SUPPORT ON THE BOTTOM TREND LINE AROUND 22.
  • IF THE TREND LINE HOLDS A RALLY IS POSSIBLE TOWARDS 27.
  • THE 30 MINUTES CHART SHOWS A CHANNEL FORMATION WITH NEGATIVE DIVERGENCE. THE STOCK MAY FALL TO 22.00 AGAIN.

RENUKA SUGARS LTD BREAK OUT


RENUKA SUGAR LTD DAILY CHART

  • RENUKA SUGARS LTD HAS GIVEN A BREAK OUT ABOVE 20 DAY MOVING AVERAGE
  • KEEP A STOP LOSS OF 52 FOR GOING LONG.
  • HAS MENTIONED LAST WEEK ABOUT RENUKA SUGARS POSITIVE DIVERGENCE LAST WEEK CLICK HERE TO VIEW THE POST.
THANK YOU

NIFTY TECHNICAL ANALYSIS FOR LAST WEEK


NIFTY DAILY CHART

  • NIFTY HAS MADE A REVERSAL FROM CHANNEL BOTTOM. MACD HAS NOT GIVEN A BUY YET. 
  • AS YOU CAN SEE THE LAST TWO TIMES WHEN NIFTY CAME CLOSE TO THE CHANNEL BOTTOM IT COMBINED WITH MACD CROSSOVER TO GIVE A GOOD REVERSAL
  • I AM EXPECTING IT TO HAPPEN AGAIN. BUT HAS RESISTANCE AROUND 5080. 
  • IT MAY GO DOWN A BIT FROM CURRENT LEVELS.
  • BUT THE CORRECTION FROM HERE MAY NOT BE TOO LARGE AND AN UP MOVE FOLLOWED BY THE BREAKING OF 5080 WILL TAKE NIFTY TO NEW HIGH'S.
THANK YOU

USD/JPY HOURLY TRIANGLE BREAKOUT

USD/JPY


  • THERE IS A TRIANGLE BREAK OUT AND IT LOOKS LIKE IT WILL TAKE OUT 94 AGAIN.
  • A 6 POINT MOVE FROM HERE IS WHAT I AM EXPECTING
THANK YOU