December 31, 2010

APPLE Rising Wedge

  • Apple rising wedge breakdown in hour chart.
  • Supports are at 321.65 and 319.
  • At present stock is pausing near 321.65 break of this level can give 319.
  • EURUSD AND US DOLLAR CHART ANALYSIS

BIDU Support levels

  • Bidu is moving away from its 50 hour moving average.
  • Stock has also fallen below its support level of 97.95 in hour chart.
  • Next support for Hour time frame is at 95.75.
  • EURUSD AND US DOLLAR CHART ANALYSIS

Head and Shoulders of S&P 500

CHART-II
  • We had a breakdown from H&S pattern. But bears are not able to gain momentum.
  • If price does not trade below 1248 This will end up as another H&S pattern that's failed.
CHART-I
  • ES Hour chart with head and shoulders pattern.
  • Since the failure rate of this pattern is high these days Neck line can be used as a support line too.
  • Price may go down only if it sustains below 1251.50 for some time.
  • Main support below 1251.50 is at 1245.50
  • S&P 500 ANALYSIS AFTER CLOSING BELL.

Nifty Daily Analysis

  • Nifty has closed above the golden ratio 61.8%. Sustaining above this level can take it to 78.6% Fib level.
  • Nifty continues to close above 5 day high Ema Showing Bull strength. 
  • Bigger up move can happen once the 20 DMA does a bullish cross above 50 DMA.
  • SILVER RESISTANCE LEVEL

S&P 500 Analysis after closing bell

  • S&P 500 gave a negative day followed by the shooting star of yesterday.
  • Break of 1255 area may give good gains to bears.
  • But the hour is trending up above the cloud and the trend looks strong. Bulls may become weak only if price trades below the cloud.
  • 30 Minutes chart shows the possible trend line support in case of a correction.
  • SILVER RESISTANCE LEVEL
  • ES SUPPORT LEVEL IN HOUR CHART