January 29, 2011

MICROSOFT Chart analysis

  • Daily chart of MSFT shows price testing the 50 day moving average.
  • Momentum of price is favouring bears. If stock closes below 50 dma direction will favour bears in the short term.
  • Weekly chart shows important support area near 27.40. Price is testing this level. Closing below this level will take price towards the weekly trend line.
  • US DOLLAR RISES FROM THE GOLDEN RATIO

US DOLLAR Rises from the Golden Ratio

US DOLLAR DAILY CHART
EURUSD DAILY CHART
  • US Dollar and EurUsd daily charts with the golden ratio(61.8%) Fibonacci level.
  • US Dollar took support at the 61.8% Fib level while for Eurusd it acted as resistance.
  • Now for the Dollar to rise it should cross the 50% level and close above it which will confirm a short term reversal in US Dollar price and this means negative outlook for EURUSD.

Nifty Weekend charts

  • Nifty daily chart showing bears extending gains below 200 DMA. 
  • Line chart is showing a possible reversal area from near 5490 levels
  • MACD is showing slight positive divergence but price is yet to confirm.
  • Bears will be happy to see yet another bearish engulfing in weekly chart.
  • TATA STEEL ASCENDING BROADENING WEDGE

ES Support level

  • 1273.50 Is an important level in daily chart.
  • This level may give support as this acted as a resistance area in the past.
  • But if bears manage to break and close below this range, Things will favour bears in the short term.
  • APPLE HOUR GIVES A SELL