September 25, 2012

 
  • 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.

  • 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
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  • 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
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  • 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
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  • TATA Steel shows price resistance between 415 - 418 levels.
  • There is an unfilled GAP between 418 - 424.
  • 200 Day SMA stands at 420.
  • Golden ratio at 414. So this area will cause problems for bulls. Bears will be stronger below 391 and 381 levels.
  • TATA STEEL INTRADAY LIVE CHART
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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