September 21, 2012

  • Two SPY 15 Minutes chart shows Ranges of SPY.
  • Last chart is the one hour time frame which shows price testing 50 Hour SMA. Price falling below 50 Hour SMA may lead to 145.63 levels.
  • Up move possible on price staying above the falling resistance line shown in one hour chart.

  • Gold Range breakout is not sustaining above 1779.
  • Gold bulls need hourly candles to close above this level for the up move to continue.
  • Price sustaining above 50 period SMA and Four hour cloud will continue to support bulls for upper breakouts.

  • Crude oil back to the broken support level of 93.95 - 94.10 zone.
  • Price is also near the broken 50 Day SMA.
  • Above mentioned levels may act as resistance. A stronger pull back is also possible if price starts to trade above 50 Day SMA.

  • Price showing weakness near golden ratio.
  • Weekly line chart too shows price near crucial support resistance level. 
  • Week high EMA at 5511 is a crucial level. Closing the week above this level will keep the bullish options intact.
  • Last chart shows another monthly candle loosing gains. Unable to close the month above 5 Month High EMA will be negative for bulls.

  • ES 4 Hour chart found support near the cloud and 50 period SMA. 
  • price is now near resistance levels. The recent trend of breaking resistance levels may continue but bears must hope that the recent high act as resistance.

  • EURUSD Weekly chart shows price getting resisted at 38.2% Fibonacci level.
  • Price sustaining above 200 Day SMA will favor bulls of EURUSD. 
  • Getting support at 4 Hour cloud may give an up move.


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