September 8, 2011

  • CSCO Violates 100 DAY SMA.
  • If price closes above the day above 100 SMA it may target 200 SMA.
  • Price should also stay above 16.49 which is a resistance level.
  • Crude oil four hour chart hits the resistance line.
  • Breaking above this line can give good up move for crude oil
  • Breaking below the dotted line can give good correction.
  • BIDU is approaching the resistance line of the triangle pattern
  • Price is also trying to stay above 50 day moving average.
  • If price falls below 50 SMA we might see a correction towards the bottom of the triangle pattern.
  • Price breaking above the support line can give good up move for BIDU.

  • 200 Period moving average line is acting as resistance for bulls.
  • There is a resistance line from 1347 through 1228 level. Break of this line may lead to the dotted resistance line.
  • For now bulls has to deal with the 200 period moving average which is acting as resistance.
  • S&P 500 ANALYSIS AFTER CLOSING BELL
  • SILVER IN A TRIANGLE PATTERN
  • Silver four hour chart is showing a triangle pattern
  • Daily chart shows price taking support at 50 day moving average.
  • So price may move towards the resistance line of the triangle.
  • Bigger breakdown will happen only if price break and close below 50 day SMA.
  • SILVER TESTING 50 SMA
  • BEARISH ENGULFING OF GOLD
CHART-III
  • Triangle breakout has given good gains for bulls. 
CHART-II
CHART-I
  • Important trend lines and numbers for the bulls of nifty futures to hold on for moving up.
  • Click the chart to enlarge.

CHART - I
CHART-II UPDATED
  • Bank nifty futures has given a breakout above the neck line of an IHNS pattern.
  • Now price is testing the breakout line.
  • If price stays above the line it favor bulls.
  • Price falling below the neck line and hours closing below it may lead to a correction.


  • Price in daily chart continued the bullishness shown by yesterdays candlestick.
  • Price also closed above 20 Day Moving average, It may target 50 SMA next.
  • Possible resistances for SPX now are 50% and 61.8% Fib levels and 50 Day SMA.
  • Price is also trying to close above 100 week moving average. Last four attempts to stay above this moving average has failed.
  • BEARISH ENGULFING OF GOLD
  • SILVER TESTING 50 SMA

Disclaimer

All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.

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My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore