- ES one hour chart near 100 Hour SMA.
- Price is testing the hourly cloud. Falling below the cloud and 100 Hour SMA should result in a bigger correction.
- PCLN BEAR FLAG BREAKDOWN
August 9, 2012
- PCLN has given a breakdown from the bear flag pattern discussed in yesterday's post.
- Price is near the Golden ratio and the Weekly up trend line.
- Breakdown below the above mentioned levels will extend the fall towards the bear flag's Target area discussed in YESTERDAY'S POST.
- Holding above the up trend line may give an up move.
- TATA Steel hour chart shows a bullish pattern. But one look at the bigger time frame shows clear resistance at 416 levels. Daily chart shows a GAP and 50 Day SMA at this level.
- So for tata steel strength only if price trades above 50 SMA and the GAP. Till then up moves can be sold.
- TATA STEEL LIVE CHART WITH AUTO REFRESH
- Nifty testing the falling resistance line in weekly chart.
- Weekly chart is also reacting from 100 Week SMA (5386).
- Cup and handle breakout need bullish candle with increasing volume. But we have a negative candle to start with so bulls must be careful and want price to trade above 5400 to confirm bullishness.
- CRUDE OIL RESISTANCE LEVELS
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