July 27, 2012


  • EURUSD Daily chart moving towards resistance line and 50 Day SMA.
  • Trend of daily time frame will stay in favor of bears as long as price trades below the cloud.
  • GOLD CHART UPDATE




  • Gold weekly chart shows price testing crucial support resistance zone between 1620 - 1640.
  • Crossing this zone on weekly closing basis will take gold towards the weekly falling resistance line from 1920 - 1720.
  • Daily chart shows price above 100 Day SMA Which is good for bulls But price is also near 200 SMA which should also be crossed for a bigger up move to happen.



 
  • ES Charts shows price moving towards crucial resistance levels.
  • Last chart with fibonacci levels shows Two corrections from near 78.6% fib level. So there is a chance of a Triple top kind of correction. 
  • Breakout above 78.6% would negate the above bearish view and a revisit of the recent High's are possible.
  • S&P 500 ANALYSIS AFTER CLOSING BELL




  • Nifty's counter trend move happening at a faster rate. But price is catching up with resistance levels.
  • From 5150 - 5156bulls must deal with 100 Day SMA, 5 Day High EMA 
  • If price crosses the above mentioned level then the GAP and the Falling resistance line will come into play. 
  • For a possible trend change price must sustain above all these levels.


 
  • SPX Took support near 50 Day SMA and the bounce took price above 100 Day SMA.
  • Weekly chart shows price above 20 Week SMA But price is still stuck in a range in weekly chart. Price nearing the upper end of the range or resistance levels.
  • 4 Hour line chart shows possibility of this move getting extended if price stays above 50 period SMA. This setup has worked well in the recent past.
  • EURUSD CHART ANALYSIS


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"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