July 20, 2012

  • Crude oil pausing at100 Day SMA
  • Getting resisted at the base of weekly Ichimoku cloud.
  • Unable to breakout above the daily cloud.
  • for a bigger up move price has to sustain above the cloud of these two time frames.

  • Apple daily chart nearing 78.6% Fibonacci level which was the recent swing high.
  • Crucial levels are 603 and 619.
  • Bulls are safe above 20 Day SMA. Last chart also shows 100 SMA acting as crucial support line.

  • ES One hour falling towards channel support line and 100 Hour SMA.
  • Daily time frame is getting resisted near swing high of 1375.
  • Breaking below the channel and 100 Hour SMA may extend gains for bears of ES.

  • Nifty week shows price struggling to sustain above weekly Ichimoku cloud. Last attempt to sustain above it resulted in a fall as show in the first chart. Nifty bulls are making another attempt to sustain above the cloud. Crossing the swing high will favor the bulls.
  • Price is finding support at weekly middle bollinger band But the Month middle bollinger band continue to act as resistance. 


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.


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