June 22, 2012

  • Apple near up trend line and 50 Day SMA. Sustaining above this level may give a bounce towards 590 levels. Breaking below the support line could target 566 levels for the day.




  • ES one hour chart shows price falling below 50 and 200 Hour SMA.
  • Four hour chart shows price trying to find support at the cloud. ES bears need price to break below the cloud.
  • Last chart shows the inverted head and shoulders pattern which is still valid. Bears need price to stay below the 200 period SMA.
  • BAC CHART ANALYSIS



  • BAC Weekly chart shows price resistance at Middle bollinger band. Weekly close below this level will be negative for bulls of BAC.
  • Daily chart shows resistance at 100 Day SMA. Fall will extend on breaking below 50 day SMA.
  • Four hour chart shows a channel. Breaking below the channel may target 50 period SMA of four hour chart. Getting support at channel support line may save bulls of BAC from a bigger fall.
  • S&P 500 ANALYSIS AFTER CLOSING BELL


  • Crude oil weekly support at 74 - 75 level.
  • Weekly chart forming a bearish M in chart or a Double top pattern which will be effective on closing below 74 levels.
  • Death cross of crude oil too continue to do well for bears of CL.
  • S&P 500 ANALYSIS AFTER CLOSING BELL


  • MCX Crude oil shows price breakdown from a range.
  • Daily chart shows price getting resisted at 20 day SMA. Down trend will remain strong below 20 day SMA.




  • Nifty closed near the crucial price pivot zone of 5180 - 5200 which has seen many price rejections. Being a weekly close day today price has to close above this level and weekly Middle bollinger band to extend the up move.
  • Daily chart with Ichimoku cloud shows another attempt to breakout above the cloud. Failure for second time will be negative.
  • Bears need price to close below 50 Week SMA for a possible trend change in daily time frame.
  • S&P 500 EOD UPDATE




  • Four hour chart shows a confluence of resistance with previous support acting as resistance and Golden ratio combining well to stop the bulls from advancing.
  • Daily chart shows price getting resisted near the cloud and closing below 50 Day SMA.
  • Weekly chart too reacted from 20 Week SMA With just one more day for the week to end its looking bad for bulls of SPX.
  • GOLD UPDATE


Disclaimer

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.

Followers

Blog Archive

Powered by Blogger.

My Favourite Quote

"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