February 9, 2012

CHART-II
  • Crude oil chart discussed below has given a correction. Price falling below 50 Period sma will extend correction towards 96 levels.
CHART-I
  • Crude Oil four hour chart near channel resistance line.
  • Bearishness here may take oil towards 97 and below.
  • Bulls of crude oil need a channel breakout to continue the up move.
  • RANGE OF GOLD
  • SPY Month chart shows possible resistance level between 137 - 137.20 level.
  • Month fibonacci levels shows possible resistance at 78.6% Fib level.
  • COPPER CHART ANALYSIS
  • IBM Daily chart at previous resistance levels.
  • Daily closing above 194 levels may take the stock to 200 levels initially. 
  • Close below 191 or 10 Day EMA may give a MACD sell signal which should target the GAP area near 184.
  • ES ASCENDING TRIANGLE
CHART-II
  • Range shown below has given a good breakout. If the current four hour candle closes near the high this momentum should take copper to 4.1077. Bears of copper need price to fall back into the range.
CHART-I
  • 100 Period SMA of four hour time frame is an important support. Copper will be weak below this level. 
  • Important resistance is at 3.9290. Range support is at 3.7503
  • ES ASCENDING TRIANGLE
  • Hour closing above 1348 should give another 10 Points for bulls.
  • sustaining below the hourly cloud should give similar results for bears.
CHART-II
CHART-I
INDIA VIX AS OF YESTERDAY
  • Nifty continues to trade in a narrow range. An hourly close outside this range may give momentum for price.
  • VIX chart shows price near resistance line. It could go either way from here. Getting resisted at the down trend line will continue to favor bulls of nifty.
  • Line chart shows price moving around the 5360 mark. Daily chart too is making a small range here over the last 3 days. Once this range between of (5320 - 5414) gets broken on closing basis nifty will move away from this support resistance level. A bearish weekly candle at this level may give some relief for bears next week.
  • Important  support is at 5260 levels which is the 50 Week SMA. Resistance is the 50% fib level as shown in 2nd chart.

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