August 24, 2012

  • EURUSD Four hour chart moving up in a channel. Price near the resistance line of the channel.
  • Daily chart is nearing previous support zone which may act as resistance.
  • Weekly chart need to close above 20 Week SMA for the up move to continue.
  • GOOGLE RESISTANCE LINE AND NEGATIVE DIVERGENCE


  • Google Weekly chart testing crucial resistance line.
  • Daily chart is showing negative divergence with MACD Histogram and Price. MACD lines too is closing in on a sell signal.
  • But price is yet to show any weakness in daily chart. breaking the up trend line and 662 levels may start the correction in favor of bears.
  • APPLE NEGATIVE DIVERGENCE


APPLE DAILY CHART WITH MACD
  • Apple hour trend continues to favor bulls as it trades above 50 Hour SMA. Weakness only if price starts to trade below 50 Hour SMA.
  • Major support for bulls is 644 which was the previous resistance. Falling below 644 would favor bears for a bigger fall.
  • Last chart shows negative divergence. But price continues show strength so predicting the fall will be costly, let the price show weakness before taking shorts.
  • GOOGLE RESISTANCE LINE AND NEGATIVE DIVERGENCE


  • So far the dips in hour chart has acted as a buying opportunity. The current fall has broken the up trend line and is testing a horizontal support zone. Breaking below this zone and 100 Hour SMA Shall result in a bigger fall.
  • Price falls below the hour cloud has acted as buying opportunity so for bulls price must get back above the cloud for continuing the trend.
  • 5348 is a crucial level as shown in daily chart analysis. For bears hour should trade below 100 Hour SMA and 5348.
  • NIFTY DAILY CHART ANALYSIS



  • Nifty daily MACD Histogram is showing a negative divergence But price is yet to confirm any weakness yet.
  • Daily chart structure will be positive as long as it stays above 5348
  • Week has resistance at upper bollinger band and Weakness on falling below 100 Week SMA.
  • SILVER HITS RESISTANCE LEVELS


 
 
  • First chart shows price getting out of the rising wedge pattern.
  • Next chart shows price breaking below the 4 Hour cloud.
  • Now 20 day SMA is getting tested. Daily close below this level will favor bears to extend gains. If price close at these levels or lower It will give a bearish engulfing pattern.
  • FACEBOOK 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