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

CHART-II
  • 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
CHART-I
  • 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 BREAKOUT

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.
  • SPY SUPPORT AND RESISTANCE LINES

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.
  • SPY SUPPORT AND RESISTANCE LINES

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.