August 20, 2012

Goldman Sachs Daily chart analysis

  • GS Daily chart trying to stay above 200 Day sma.
  • Price trying to close above 38.2% Fib level. Daily close above this level should target 50% Fib level near 110.
  • Sustaining above daily cloud should favor an up move.
  • For bears price must close below 200 SMA.

GOLD Ascending Triangle pattern

  • Gold daily chart shows a possible Ascending triangle pattern. Ascending triangles are bullish in nature but may also break in favor of bears sometimes.
  • For this pattern 1629 - 1633 is the resistance zone. Daily chart also faces previous support zone in which is acting as resistance around these levels.
  • For any breakout to be successful it has to trade above 200 Day SMA. Breakdown levels are 1584 - 1590 zone.

DIA - SPDR Dow Jones Industrial Average Analysis


  • DIA Daily line chart shows price hitting the resistance line a pullback from here could keep DIA inside price contraction.
  • Daily chart shows negative divergence But without price weakness negative divergence is not going to give bigger falls.
  • Last chart shows weekly candles nearing upper bollinger band. If the recent high's are exceeded then price may find resistance at upper bollinger band.

EBAY Chart Analysis

  • First chart shows EBAY Weekly chart hitting a possible resistance line
  • 2nd chart shows negative divergence with weekly rsi and price. Negative divergence in higher time frames take time to show its effect so one must be careful going against the trend.
  • 3rd chart shows daily chart breaking out of a range. So for weakness price must trade below 46.15 and 20 Day SMA.

S&P 500 Futures chart analysis

  • First chart shows the structure of ES continues to favor bulls. Price moving up without major corrections.
  • Trend will remain strong above 4 Hour cloud.
  • No weakness can be seen as long as price holds above 50 period SMA.

Microsoft Weekend update

  • MSFT Weekly chart shows price approaching resistance levels and Golden ratio.
  • Weekly MACD also shows the indicator getting ready for a buy signal
  • Crossing the above mentioned resistance levels and golden ratio will confirm a buy signal which may extend this up move towards 32 levels.
  • Unable to trade above 31.14 will favor bears of MSFT.