- Daily time frame shows resistance at 100 Day SMA and daily cloud.
- Support levels are 86.91 and 50 Day SMA.
- Break of these moving averages on daily closing basis may give a bigger move.
- SILVER RESISTANCE LEVELS
July 31, 2012
- Nifty daily could not sustain above 20 Day SMA. Bulls need a daily close above this level to sustain the up move. A bearish candle here means correction may follow.
- Price falling below 50 Hour SMA could trigger a bigger fall.
- Price sustaining above the 30 Minutes trend line could give an intraday up move.
- SBI ANALYSIS BEFORE POLICY
- SBI Weekly chart shows a triangle shaped contraction pattern. Price is taking support near the support line.
- It's a crucial day for the stock because of the RBI policy. Good news should result in an up move towards 50 Day SMA and a cloud break should target the upper resistance line shown in first chart.
- Price unable to sustain above 200 SMA should resume the fall.
- NIFTY CHART ANALYSIS
- Nifty daily chart has one more GAP to be filled between 5267 - 5300. But price has to cross a crucial resistance zone before that.
- Nifty's 20 Day SMA at 5218.
- 5 Week High EMA at 5223
- Golden ratio for the move from 5348 - 5032 is near 5229.
- Crossing the above mentioned levels may help nifty bulls to fade the GAP at the Top
July 30, 2012
July 29, 2012
- For the bullish momentum to sustain price must sustain above 12977 and 78.6% Fibonacci level.
- Sustaining above these levels could take Dow Jones towards 13200 - 13300 levels.
- Unable to sustain above the 12977 could result in a bearish week.
- Last chart shows a weekly rising wedge pattern. If the rising wedge is held we might see a big breakdown from this pattern.
- S&P 500 WEEkEND UPDATE
- INTEL Weekly chart is moving up from 50 Week SMA. But price is near resistance levels like 50 and 200 Day SMA.
- Price is near daily Ichimoku cloud which may act as resistance. For a bigger up move price must do a cloud breakout. Sustaining below the cloud will give shorting opportunities.
- S&P 500 WEEkEND UPDATE
July 28, 2012
- SPX Daily with MACD histogram shows negative divergence.
- Weekly chart shows a completely different picture with MACD about to give a buy signal.
- SPX Four hour line chart shows price at a resistance line. So for next week we might get a pullback because of the negative divergence and a breakout in favor of bulls because of the weekly MACD.
- Month chart shows price moving towards a possible resistance line. If macd buy works well price is likely to breakout above this resistance line to extend the up move.
July 27, 2012
- Gold weekly chart shows price testing crucial support resistance zone between 1620 - 1640.
- Crossing this zone on weekly closing basis will take gold towards the weekly falling resistance line from 1920 - 1720.
- Daily chart shows price above 100 Day SMA Which is good for bulls But price is also near 200 SMA which should also be crossed for a bigger up move to happen.
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