- Apple 30 Minutes chart shows price moving up in a bearish rising wedge pattern.
- One hour chart shows price moving up above 50 Hour SMA. So for a bigger fall price must break below the support line and 50 Hour SMA.
- For bulls of apple price sustaining above 575 - 578 zone may lead to an upper breakout.
- ES SUPPORT LEVELS
May 31, 2012
- AUDUSD Monthly chart shows price testing crucial support zone.
- Four hour chart is still trading below the cloud which will favor bearish trades.
- Daily chart too is trading below 20 Day SMA.
- A trend change or trading bounce in favor of bulls of AUDUSD may happen only if the pair starts to trade above the cloud and 20 Day SMA, till then this down trend will remain strong.
- Gold monthly chart testing 20 month SMA.
- Weekly chart is shown with a broken trend line and horizontal support near 1522 levels.
- If the above mentioned levels are taken out on closing basis then a bigger correction is possible in gold.
- Four hour chart shows price testing 100 period SMA. Which must br crossed for a bigger up move to unfold.
- Tata Motors daily chart shows price breakdown with increasing volume.
- 255 - 256 level was crucial support level. Having given a breakdown from this level it will act as resistance from now on.
- Stock may continue to move down towards the golden ratio or 50 Week SMA shown in the last chart in the coming weeks.
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.