- Gold daily chart breaks the rising support line.
- Price moving towards crucial weekly support levels.
- SILVER CHART ANALYSIS
June 21, 2012
- Apple one hour chart shows price in a range between 580 - 590 which has to be resolved for a bigger move to happen.
- Four hour chart shows price contraction in a bearish pennant formation.
- Bulls are safe as long as price closes above 50 and 100 Day SMA.
- MSFT RESISTANCE LEVELS
- MSFT Weekly line chart shows price entering a resistance zone.
- Daily chart shows price testing the daily cloud and Golden ratio.
- Above mentioned levels should be crossed by bulls of MSFT to target 32 and More. Bulls are safe as long as the closing price stays above 50 Day SMA.
- QQQ DESCENDING BROADENING PATTERN
- Price contraction shown in the below chart resulted in a breakout in favor of bulls. For tomorrow bulls has to face the resistance zone of 5180 - 5200 once again.
- Nifty hour in a contraction pattern. Breakout from this pattern should give good direction.
- Intraday weakness below 5094 and 23.6% Fibonacci level. Breaking the support line could lead to a larger correction.
- Bulls strong above the resistance line and 5145 levels.
- SBI Weekly chart shows price getting resisted at the falling resistance line.
- Price is unable to move above the cloud which is also negative. Week closing inside the cloud will keep bears interested.
- Indicators in daily chart are looking negative But price has to fall below 50 SMA for the correction to extend towards 200 SMA. Price sustaining above 50 SMA may save bulls from a bigger fall.
- INTRADAY LIVE CHART FOR SBI
- Daily chart of IBM is testing resistance levels.
- Price is unable to cross 100 Day SMA. It is also a confluence of resistance as price resistance is near the Golden ratio.
- IBM hourly charts continue to look bullish. Hour is showing a Golden cross. This zone of 50 and 200 Hour SMA will act as support. IBM bears must break below this zone for the resistance levels of daily to be effective.