September 23, 2012

 
 
  • SLV Daily chart shows price pausing at 78.6% Retrace level.
  • Daily MACD shows a sell signal. Bears will be stronger below 20 Day SMA.
  • Weekly chart shows price at a crucial support resistance level. Week closing above this level should extend the up move.
  • BEAR FLAG OF COCA COLA
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  • Ford Motor weekly chart shows price weakness at the falling resistance line
  • Daily chart is approaching 200 Day SMA. Daily chart is also trying to put an inverted Head and shoulders pattern. 
  • last chart shows a bullish cross with 20 and 100 Day SMA Near 9.90 levels. With the MACD looking negative we may see a correction towards 100 SMA. If this level acts as support we may see an Inverted Head and Shoulders pattern.
  • BEAR FLAG OF COCA COLA



 
  •  BANK Nifty weekly chart has given a breakout from the contraction pattern.
  • Second chart shows a possible resistance line
  • Fibonacci levels shows price closed above Golden ratio. Price now testing possible resistance at 11450. Crossing this level should take BN towards 11900 levels or the Rising trend line shown above.
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  • Daily chart shows Bearish Flag pattern and A Bearish Engulfing pattern.
  • Last bearish candle also shows High Volume which should favor a down move towards 37.13 levels.
  • BAC WEEKEND UPDATE


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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