April 27, 2012

  • Dow Jones daily chart shows resistance between 13288 - 13297 levels, which was also the recent high.
  • Hour chart shows a trending up move above 20 Hour SMA. Holding this moving average Dow jones may give an upper breakout above the resistance level.



  • If day sustains below 20 SMA and closes below it we may see an extended correction.
  • 15 Minutes shows a bullish flag like pattern which should help bulls if an upper breakout happens
  • One hour if keeps the closing values above the cloud and 50 Hour SMA we should see another up move soon.


FOUR HOUR CHARTS

ONE HOUR CHARTS

  • ES Four hour charts moving away from resistance levels.
  • Price if trades above 78.6% Fib levels Bulls may test the recent high's again.
  • One hour charts shows price trending above 50 Hour SMA.
  • S&P 500 DOUBLE BOTTOM



  • Crude oil four hour chart shows falling resistance line, 50 Period SMA and Ichimoku cloud as resistance levels.
  • Recent low of 29.93 will act as a short term support level. Silver will face selling pressure at higher levels so support levels are likely to be tested.
  • S&P 500 ANALYSIS AFTER CLOSING BELL

  • Crude oil near channel top and 50 day Simple Moving Average.
  • Crude oil Bulls need a daily close above these levels for the up move to continue.
  • Getting resisted here will result in a fall towards the dotted support line. Falling below the dotted line may take crude oil towards 100 levels.
  • S&P 500 ANALYSIS AFTER CLOSING BELL





  • Bank Nifty has strong support between 9900 - 1000 level as shown in last chart.
  • BN bears need a close below 50 Week SMA and the above mentioned support levels for the weakening indicators like MACD and Stochastic to be effective. 
  • S&P 500 EOD UPDATE



  • SPX has closed above crucial resistance level of 1392.
  • Price has broken the resistance level of the double bottom pattern. Now sustaining above 1392 price may target the recent high's again.
  • Fib levels shows price above golden ratio. Next possible resistance at 78.6% Fib level.



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"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