December 13, 2011

  • ES Four hour chart shows a bearish cross with 20 and 50 period SMA. If price stays below 20 period SMA bears will be stronger.
  • For bulls to negate this bearishness they have to break above both 20 and 50 Period SMA.
  • Price is also moving ave 200 period SMA. Staying above it will favor bulls. For bears price has to break below 200 SMA and yesterday's low to extend gains.
  • S&P 500 ANALYSIS AFTER CLOSING BELL
  • CRUDE OIL ANALYSIS

  • Daily chart shows a trend line which acted as resistance previously is acting as support now.
  • For bears of crude oil this line should be broken on closing basis for a correction to happen.
  • Four hour chart shows price near 200 Period SMA. If price gets support here an up move is possible in crude oil.
  • S&P 500 ANALYSIS AFTER CLOSING BELL

  • Lower Bollinger bands in weekly and daily charts lies closer to the recent lows. Possible sloping support line shown in second chart. So Price may bounce from these levels.
  • But the scary picture for bulls is the weekly line chart which shows the perfect down trend. If price breaks the recent weekly lows on closing basis its not good news for bulls.
  • If 4639 is tested bulls need to defend it on closing basis.
  • S&P 500 EOD ANALYSIS

  • SPX Daily chart shows 50 SMA moving closer to 200 SMA. This might result in price breaking out above 200 SMA or breakdown below 50 SMA.
  • Hour chart shows price testing 200 Hour SMA. Price sustaining below 200 Hour SMA will favor bears.
  • There is a possible bullish pattern developing in hour chart But for bulls price should sustain above crucial moving averages for a breakout in their favor to happen.
  • GOLD TESTING 200 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.

Followers

Blog Archive

Powered by Blogger.

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