September 24, 2012

 
  • SPY 4 Hour chart with up trend lines and 50 period SMA as support levels.
  • Breaking below 38.2% Fib level may extend the correction towards the golden ratio. An up move may happen from the first up trend line or the 50 period SMA.
  • ORACLE TREND UPDATE
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  • Silver 4 Hour chart shows support at 33.48 and 100 period SMA.
  • For a possible trend change price must fall below the cloud.
  • Taking support at the current levels may give 35 levels again.
  • SLV WEEKEND UPDATE
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DAILY CHARTS
 
4 HOUR CHART
  • Sustaining below 50 Day SMA should continue to favor bears of crude oil.
  • Crucial support and resistance levels shown in 2nd chart.
  • Last chart is of 4 Hour time frame which shows price near crucial level of 90.96. Trading above the 20 Period SMA may give a bounce in favor of crude oil bulls.
  • BEAR FLAG OF COCA COLA
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  • GLD Near previous resistance level of 174.
  • Weekly chart also shows price pausing near 61.8% Fib level.
  • Daily MACD is showing some weakness which may work well for bears on a channel breakdown and falling below 170
  • SLV WEEKEND UPDATE
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  • reliance hour chart shows a bear flag pattern.
  • Stock has support at 828.
  • Price sustaining below 50 Hour SMA will favor bears.
  • Bears need to break below 828 for extending gains.
  • INTRADAY LIVE CHART FOR RELIANCE INDUSTRIES
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  • TCS Weekly chart shows a bearish engulfing pattern.
  • Price is near a crucial support level between 1280 - 1300 and also near an up trend line
  • Fall of last week led the stock towards its 50 Day SMA were the fall has taken a pause for now.
  • CNX IT CHART ANALYSIS
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  • CNX IT Had a bearish week. Price took support near 20 Day SMA and for the weekly chart it was 100 Week SMA.
  • Daily chart with up trend line shows support near 6243 - 6300 level.
  • Daily MACD and overbought Weekly stochastic may favor bears if the moving averages mentioned above gets broken.
  • NIFTY WEEKEND UPDATE
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  • First chart is of the daily time frame which shows the steady up move of Oracle.
  • 2nd chart shows the approaching resistance level of Oracle in weekly time frame.
  • Resistance level is also the 78.6% Retrace level. Weekly MACD is showing some weakness but continue to stay in Buy mode It may give a sell signal if the Up trend line gets broken.
  • SLV WEEKEND UPDATE
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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