May 25, 2012

GOOGLE Below 200 SMA

  • Google is testing its 200 Day SMA.
  • Price is also near 50 Week SMA.
  • Last chart shows a support line which must be broken for bears to extend this fall.
  • 50 Week SMA is near 585. Week and daily close below this level will favor bears.

SPY Support and Resistance levels

  • Crucial resistance level in hour chart is 133.23. Breakout above this level means breaking above the hourly cloud which should take price above 135 levels.
  • Weakness below 131.42

Falling wedge of copper

  • Daily chart shows copper with a falling wedge pattern which is a bullish reversal one.
  • For the wedge to work well in favor of bulls the support line in second chart must be held.
  • Down trend will remain strong as long as price stays below 50 period SMA OF Four hour time frame.

NIFTY Support and resistance lines

  • Bulls need to break and close the day and week above 4956.
  • Bulls will be weak below 4889 and the dotted trend line.

NIFTY Chart Analysis

  • Week getting support near weekly lower bollinger band. 
  • Price is getting resisted near the broken golden ratio. This level must be crossed for a sustained up move to happen.
  • Nifty near crucial levels as Week candle approaching 5 Week low EMA and Month candle near Month low EMA. Nifty Week low EMA at 4918. Month low EMA at 4937

S&P 500 Analysis after closing bell

  • Daily chart shows candlesticks with lengthy shadows but very little progress on closing basis. Price yet to close above 10 Day SMA.
  • Hour chart shows a channel formation with price violating its resistance line. Moving above 1328.49 may give a short term up move.
  • Last chart shows a triangle pattern in 15 minutes chart with a possible 25 point move towards the side of breakout.

APPLE Hour chart analysis

  • Apple hour chart shows price in a small range between 50 and 200 Hour sma. Bigger moves once this range is taken out.
  • For bulls of apple price need to stay above the hourly cloud.
  • Bigger up move on closing above 200 Hour SMA.