May 7, 2012
Starting today MCX and USDINR updates will be posted in this Blog.
- 30 Minutes chart shows the swift fall of crude oil.
- Four hour chart shows price breaking key support levels
- 5260 level which was the 50% Fib level was a an important level. Now that this level is taken out this will act as strong resistance.
- Golden ratio is the next key level breaking below this level should take Crude oil towards 5100 levels. Taking support here means a retest of the 5260 levels again.
- Nifty weekly and daily charts have broken below crucial support levels. bears now want the weekly channel breakout to fail. The channel resistance line is between the Golden ratio and 5000 levels. Channel breakout failure may result in big correction. Let the Golden ratio save bulls from bigger falls.
- SBI CHART ANALYSIS
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.