March 2, 2012

  • Crude oil daily chart has support at 20 Day SMA which is near 104.60 for today.
  • Previous resistance was between 103.36 - 103.73 levels which may act as support now.
  • Bidu near resistance line. Price is also near the apex of a contracting pattern which will be resolved soon to give a bigger move.
  • Price is above 200 SMA. So a successful breakout here should give 150 levels and above for Bidu.
  • Getting resisted here will take stock back to 200 SMA again.
  • Bulls of silver need to close the week above the falling resistance line and the horizontal line at 35.68.
  • A bearish candle here will target 32.50 levels and below that.
  • Spike above 50 Week SMA looks like a false one so far.  
  • Nifty one hour chart with a triangle pattern.
  • Breakout in favor of bulls must trade above 50 Hour SMA for a sustained up move to happen.
  • Price sustaining below 200 SMA will lead to a breakdown. Bigger fall possible below 5268
  • SBI Weekly cloud and 5 Week High EMA acting as resistance levels.
  • Stochastic shows overbought reading in weekly time frame. But for a correction price has to close below 50 Week SMA.
  • RELIANCE CHART ANALYSIS
  • Daily near 200 SMA Weekly is near a resistance line and 50 Week SMA.
  • Reliance should do a daily and weekly close above these levels today to avoid a correction.
  • Weekly stochastic may trigger a sell if price does not make a positive close.
  • USDINR BULL FLAG AND H&S PATTERN
GLD
SLV
  • GLD Bears are doing far better when compared to SLV.
  • Hour of SLV is yet to close below the cloud and 200 Hour SMA. GLD has fallen and closed below these levels and if GLD starts moving up these levels will act as resistance.

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