April 16, 2012



  • Google daily chart has fallen below the up trend line.
  • Price has also given a breakdown below 50 Day SMA.
  • Next hope for bulls of Google is the 200 Day SMA




  • QQQ Daily chart hits 50 Day SMA.
  • Price also touched 23.6% Fib level.
  • Previous resistance level was 65.08 which may act as support. 
  • Daily close below these levels will add strength to bears.
  • APPLE WEEKEND UPDATE



  • ES Four hour charts with resistance levels.
  • Price near resistance line and 50 Period SMA which has acted as resistance so far.
  • For a trend change to take place price must trade above all these levels and the previous support level  which acted as resistance so far.
  • JP MORGAN WEEKEND UPDATE




  • Crude oil daily chart looks bearish as it stays below 20 and 50 Day SMA.
  • But weekly chart is at a crucial support level. 20 Week SMA has given good support when price fell onto it last time. Week candle has given a Doji like formation at 20 Week SMA. If price stays above this line crude oil may turn up again.
  • SILVER SUPPORT AND RESISTANCE LEVELS


  • Nifty moving towards crucial support levels.
  • 200 SMA at 5145.
  • Recent low at 5135
  • Mid Bollinger Band or 20 Week SMA @ 5129
  • 50% Fibonacci level near 5080.
  • Perfect scenario for bulls would be an intra week break of these levels and close the week above them thus keeping the bullish scenario intact.
  • For bears daily closing below these levels will add strength confirmation on a weekly close.
  • S&P 500 WEEKEND UPDATE


  • Silver daily chart with support and resistance levels.
  • Breakouts above 20 Day SMA is not sustaining.
  • Daily candle closing above 32.58 will lead to a bigger up move in silver
  • Breaking below 30.98 will be negative and may take silver towards 29 levels.
  • APPLE WEEKEND UPDATE


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.

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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