February 2, 2012

CHART-II
  • Was expecting a diamond top But ended up as a continuation pattern. Closing above 12841 will favor bulls.
CHART-I
  • Hour chart of Dow Jones is forming a diamond pattern.
  • For bears price has to fall below 100 Hour SMA and the support line of the diamond.
  • Taking support at the support line and breaking the resistance line will favor bulls for continuing this up trend .

  • 50 Day SMA may act as support if price falls towards it.
  • 1.3234 is the resistance line.
  • Closing outside these levels may give a bigger move for EURUSD.
  • SINA CHART ANALYSIS
  • ES BULL FLAG

  • Smaller time frame is showing a possible continuation pattern
  • Four hour time frame too is staying above the cloud which will help bulls to extend gains.
  • Price falling into the cloud will be negative.
  • Red horizontal lines may act as resistance levels, Breaking them will favor bulls to extend gains.
  • SINA CHART ANALYSIS

  • Price sustaining above 100 SMA will extend gains for bulls of SINA.
  • Week chart is above Middle bollinger band. Closing above this level will extend gains towards the dotted resistance line shown in 2nd chart.
  • Last chart weekly line chart which may act as resistance.

  • Getting support here at 100 SMA will favor a bullish trade in crude oil
  • Price sustaining below it may push crude oil towards 200 Day SMA.
  • POSSIBLE TARGET LINE FOR US DOLLAR

  • For Rcom its a big volume day. Stock moved from 102 to 91 and its trading near 97 again.
  • 10 Day EMA is at 94 Stock has managed to close above 10 Day EMA from 70 levels. Today being a high volume day a bearish close may give a pull back for rcom in the coming day's.
  • Any close above 98 means that today's action is just a shakeout of the weak bulls and to continue the up move.


  • Daily chart managed to close above 200 SMA.
  • Weekly chart has the tougher task of breaking out of the channel.
  • Indicators have come to the overbought zone in weekly time frame. So there has to be a breakout for sustaining this up move. 
  • Bears badly need a negative weekly candle at this level.


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"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