- EURUSD Daily chart shows price correction pausing at 23.6% Fib level and 20 Day SMA.
- Daily chart also shows a bullish cross with 20 and 200 Day SMA. If price fall is limited to 200 SMA then this bullish cross should do well.
- For a bigger up move Weekly chart should break above the falling resistance line.
September 25, 2012
- Crude oil 4 hour chart shows a range between 90.96 - 93.82
- Daily chart shows the fall pausing at 38.2% Fib level. Daily candle closing below this level should give another fall in favor of Crude oil bears.
- For crude oil bulls price should breakout above 50 Day SMA for a meaningful bounce to happen.
- SILVER TREND UPDATE
- APPLE Daily continue to move up in a channel. Price near the support line of the channel.
- Weekly chart with RSI shows negative divergence and RSI is turning down from overbought levels But for apple bears price has to sustain below 20 Day SMA for confirming weakness.
- 20 Day SMA and 655 are crucial support levels for APPLE.
- FACEBOOK CHART ANALYSIS
- Up move of Facebook has hit resistance before it could test the crucial GAP between 24 and 26.
- Price could not sustain above 50 Day SMA. Stock fell exactly from the daily cloud
- Price is testing 20 Day SMA, Daily close below 20 SMA could lead to newer lows in Facebook.
- SPY SUPPORT LEVELS
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.