September 29, 2011

Triangle of ES

CHART-II
  • Triangle support line is violated. Breaking below 1141 will extend profits for bears.
CHART-I

GOLD Support and Resistance levels

  • Hour chart of gold shows a range 
  • 100 Hour SMA is acting as resistance.
  • Price breaking above 100 hour SMA will take gold to the top of the range.
  • Bigger up move possible if the range is violated on the up side.
  • Unable to break above 100 Hour SMA will favor bears of gold.
  • GOLD RESISTANCE LEVELS IN WEEKLY CHART

NIFTY Futures intraday update

CHART-II
CHART-I
  • NF is still inside the range shown yesterday.
  • Price testing the top of the range. Price sustaining above 4995 may lead to a bigger rally.
  • Getting resisted here will result in a pull back.

S&P 500 Analysis after closing bell

  • Last two attempts to stay above 20 day SMA has failed.
  • Weekly chart is shown in important support level which is between 1100 - 1120.
  • Price falling into this level may result in another bounce.
  • For bears they need to break the support line shown in weekly chart.
  • Monthly chart too shows Price taking support @ 50% Fibonacci level. So price is near a crucial support level right now.
  • DESCENDING TRIANGLE OF ES

US Dollar Pauses near 200 Week SMA

  • Up move in us dollar may continue only when a weekly candle closes above 200 Week moving average.