January 28, 2011

CRUDE OIL Rises from the trend line

  • Crude oil is showing bullishness in daily chart.
  • Price took support near the trend line in daily chart and has moved up.
  • Price should sustain above 89.50 for this bullishness to sustain.
  • APPLE HOUR GIVES A SELL

Apple hour chart analysis

CHART-II
  • Range beaks down. gives a good short trade.
  • If price continue to move away from 50 hour moving average bears can extend gains.
CHART-I
  • Apple falls below 50 hour moving average.
  • But the range in hour chart is yet to be resolved.
  • If 342.75 breaks bears may extend gains below 50 hour moving average.
  • ASCENDING TRIANGLE OF ES

Dow Jones Futures in a rectangle

CHART-II
  • Rectangle breaks in favour of bears.
CHART-I
  • Dow Futures one hour chart is trading in a rectangle pattern.
  • The range is between 11910 - 11970.
  • APPLE HOUR CHART ANALYSIS

Ascending triangle pattern of ES


  • ES Four hour chart with resistance area between 1296 - 1298
  • Price has been trying to close above this band but is finding resistance here.
  • For the bulls to move ahead price should breakout above this level and sustain there.
  • If price keeps getting resisted here ES may slide back to 1290 levels.
  • SILVER DESCENDING CHANNEL

Nifty Futures falling down in a narrow channel

CHART-III
CHART-II
CHART-I
  • Nifty Futures broke the support line around 5627 yesterday
  • NF fell below 5400 today.
  • NF is falling down in a narrow channel. Price closing outside the channel may give a decent bounce. But till now every small rise has been sold off by the bears.
  • This is a follow up post from yesterday's  INTRADAY UPDATE

Nifty Knocking the doors of bear market

  • Nifty closes below 200 DMA first time after may 2010.
  • Weekly chart is showing a possible bearish engulfing pattern, which will get confirmed today if the week closes below 5648. Last two bearish engulfing patterns showed in chart has given good gains.
  • Bulls will try to stay above the trend line in weekly chart. failure to stay above it may push nifty down to 5350 levels.
  • SILVER DESCENDING CHANNEL