February 23, 2012

SILVER Weekly resistance line

  • Price has to sustain above 50 Week SMA and the weekly resistance line for continuing the current up move.

CRUDE OIL Resistance levels

  • Price fell from the resistance level took support at the middle of the range. Price testing the resistance level again. This time bulls seems to have the momentum for a breakout
  • Crude oil in a range between 104.64 to 106.47
  • Price is unable to stay above the resistance level. 106.47 - 106.79 level is acting as resistance.

Netflix Chart analysis

  • Netflix moving down towards middle bollinger band
  • Stock will be weak below 20 day moving average.
  • Breaking below 104.6 will extend correction.

SILVER Trying to break higher

  • Price violated the range on upside and 200 SMA.
  • Daily close above 200 SMA will give further momentum for silver and may target 37 levels.
  • Unable to close above 200 SMA or above the range resistance line will lead to a fall in silver towards the bottom of the range.

S&P 500 Futures Trend update

  • ES bears need price to fall below 200 Hour SMA for extending this correction.
  • Hour cloud is acting as resistance, Primary trend will be resumed only on breaking above the cloud. Breaking below the recent low will give an easy short trade for bears.

Nifty intraday Update

  • Nifty fibonacci levels and GAP.
  • Price falling below 50% Fib level may give the golden ratio and close the gap as well and a bounce may happen from near golden ratio.

SBI Bearish Engulfing

  • SBI Daily chart with support levels like 20 SMA and Fibonacci levels.
  • Price breaking below 20 SMA should lead to a retest of 200 SMA. 
  • If the correction is limited to 20 SMA an up move is possible.

GOLD breaking resistance levels

  • Holding above 1763 and Golden ratio, Gold should move towards 1802 levels.