- Copper falling towards support line of four hour time frame.
- This time frame also has 100 period SMA which may act as support
- Larger correction possible only if the moving average and Channel support line breaks.
- MCX COPPER CHART ANALYSIS
February 13, 2012
- Silver weekly chart is showing a range near the resistance line of a descending triangle pattern shown in first chart. Range breakout will find resistance near the resistance line or 50 Week SMA. So an upper breakout may not give a great trade. A short trade may be coming preferably from the 50 Week SMA if price gets there.
- S&P 500 ANALYSIS AFTER CLOSING BELL
- Resistance line of crude oil has been violated. Next resistance at 101.27 levels.
- Crude oil at channel resistance.
- Last hit at this channel resulted in a fall from 99 to 96 levels.
- A similar move to 96 levels can be seen from the current levels.
- Channel breakout cannot be ruled out which may take Crude oil to 101 levels.
- MCX CRUDE OIL RISING SUPPORT LEVELS
- Bank nifty has given a clean breakout from the channel. But the indicators in week has reached overbought levels which may lead to a correction. Daily chart is also showing negative divergence But bears need price to break below last week's candle low or 10 Day EMA on closing basis for a decent pull back to happen.
- S&P 500 WEEKEND UPDATE
- NIFTY WEEKLY ANALYSIS
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.