April 30, 2012



  • RIMM Daily chart testing 100 Day SMA.
  • For a bigger up move price has to breakout above the cloud.
  • Immediate resistance level  is at 14.99.
  • Closing above the cloud may give 17.30 levels. Unable to close above 100 Day SMA should result in a fall towards 12.55 levels again.


  • EURUSD Daily chart with resistance line and 200 day sma.
  • For an upper breakout to be effective price has to sustain above 200 SMA and the Resistance line.
  • US DOLLAR AT SUPPORT LINE




  • ES One hour chart with 50 Hour SMA and cloud as possible support levels.
  • Breakout above the resistance line shown in first chart should extend the move towards 1410 levels and above.
  • BULLISH ENGULFING OF QQQ



  • SILVER near the resistance line and Ichimoku cloud. If price is able to break above these resistance levels Price will enter the selling zone.
  • The area between 100 period SMA and 200 period SMA will continue to  act as the  selling zone until price breaks above the 200 SMA.
  • US DOLLAR AT SUPPORT LINE


  • Nifty must cross 200 Hour SMA and 50% Fib level on closing basis to extend this up move.
  • Next possible resistance is the Golden ratio.



 

  • 3rd chart shows bollinger band contraction which should result in a bigger move soon.
  • Price closing above 750 should give an up move towards 762.  breaking above 762 should give an up move towards 200 day SMA.
  • For bears the number to lookout is  723.
  • US DOLLAR AT SUPPORT LINE
  • USDINR CHART UPDATE
  • NIFTY WEEKEND UPDATE




  • US Dollar hits important support line.
  • Getting support here should result in good up move.
  • Breaking and closing below 200 SMA should result in good correction.
  • BULLISH ENGULFING OF QQQ


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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