October 9, 2012

 
  • ES daily candles shadows looks good for bears after this correction. But bears need to do more as they approach crucial support levels as shown in 4 Hour charts. Price is testing an up trend line and below that price has to deal with 200 Period SMA. If the correction is limited to these levels we may see an up move towards the recent highs again.
  • GOOGLE BREAKING SUPPORT LEVELS
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4 HOUR CHART
 DAILY CHART
  • 4 Hour chart staying below 750 levels will favor bears.
  • Daily chart is near 20 Day SMA.
  • Daily close below 20 SMA Will favor bears.



 
 
  • Apple falling towards 100 Day SMA.
  • Price nearing crucial support zone at 614 and the daily up trend line from 528 - 570 levels. Break of these levels could lead to a bigger fall in apple.
  • APPLE BEARISH DOJI STAR
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  • First chart shows price trying to hold above the 100 Period SMA of 4 Hour time frame.
  • Second chart shows immediate support and resistance levels which may give direction once violated.
  • Last chart shows price holding above 4 Hour cloud which should favor bulls for a rally.
  • GOLD SUPPORT AND RESISTANCE
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  • SBI Daily chart shows price getting resisted near 2250 levels which has acted as resistance in the past.
  • Price is yet to close below 10 Day EMA.
  • Previous resistance zone of 2210 - 2240 may act as support. Further bearishness if price managed to break and close below this level.
  • SBI INTRADAY LIVE CHART WITH AUTO REF
  • BANK NIFTY DARK CLOUD COVER
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  • SPX One hour chart is trading near a support cluster. Price near 100 Hour SMA and earlier resistance line of the triangle may also act as support.
  • Price holding above the hourly cloud too should give hopes of another up move in favor of bulls. Cloud break on closing basis may turn the trend completely in favor of bears.
  • GOLD SUPPORT AND RESISTANCE
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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."
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