- Daily chart shows support near 655 levels.
- Bears need to break below the Hourly cloud and 23.6% Fib level for further down moves.
- Holding above the cloud and the fib level may lead to an up move.
- APPLE DAILY CHART UPDATE
August 31, 2012
- Apple daily chart nearing a MACD sell signal.
- MACD lines also shows negative divergence in daily time frame.
- For the above scenario to work well for APPLE Bears price need to fall below 644 and 20 Day SMA.
- For a bigger fall price must close the day and week below 644 levels.
- INTEL CHART ANALYSIS
- INTEL weekly chart near previous resistance level.
- Price is also near 100 Week SMA.
- Breaking below 23 on weekly closing basis should push the stock down towards the up trend line shown in 2nd chart.
- If previous resistance acts as support an oversold bounce looks possible from 23 levels.
- SILVER BULL FLAG
- Silver four hour chart shows a bull flag pattern.
- Bull flag will work well in favor of bulls only if price stays above the four hour cloud and Daily chart stays above 200 Day SMA.
- Daily falling below 200 SMA shall result in a correction in favor of bears.
- ES CHART ANALYSIS
- Nifty found support at 50 day sma on expiry day. But price is still below crucial resistance levels like 5348 and 20 Day SMA. For a bigger up move days must close above these levels.
- MACD Sell signals continue to look good in daily chart. Weekly chart shows a fight between shooting start candlestick and the weekly cloud. Breaking and closing into the cloud will add strength for the inverted hammer candlestick.
- First chart is ES one hour with support and resistance lines.
- Second chart shows four hour time frame with Same support line and the next support levels in case of a breakdown.
- Last chart shows price below the cloud and testing support levels. Breakdown will strengthen bears for a trending down move in hourly time frame.
August 30, 2012
- Silver daily chart shows support line between 29.89 - 29.93. Second chart shows daily chart with fibonacci support levels.
- Third chart shows weekly fibonacci levels, 23.6% is acting as resistance for now. Last chart shows hourly time frame in a range which should be resolved for a bigger move to happen.
NIFTY WEEKLY CHART
- Nifty fall pausing at 50 Day SMA.
- Breaking day low and 50 SMA could fill the GAP shown in 2nd chart completely and may target 38.2% Fib level at 5188.
- For bulls price must get back above 23.6% Fib level to avoid a bigger fall.
- Shooting start shown in weekly chart has been doing well so far.
- TATA STEEL CHART ANALYSIS
- Tata Steel daily chart shows a Head and shoulders breakdown.
- Weekly chart shows price violating crucial support at 382.
- Bulls of tata steel badly need an intra week rally to close the week above 382.
- Next major support at 331 levels. 78.6% at 367 levels may act as a support.
- NIFTY WEEKEND UPDATE
August 29, 2012
August 28, 2012
- Silver hourly chart will continue to trend up on sustaining above 50 Hour SMA and Hourly cloud.
- Turnaround in daily chart too will be safe on sustaining above 200 Day SMA. Daily close below 200 day SMA may turn things in favor of Silver bears.
- CRUDE OIL CHART UPDATE