October 11, 2012

  • SILVER 4 Hour chart in a range between 33 - 35
  • Closing outside this range should give a bigger move.
  • Weekly chart shows price unable to close above 38.2% Fib level. For bears it is the 100 Week SMA which has to be broken on closing basis for a possible down move.
  • CRUDE OIL RESISTANCE LEVELS
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  • EURUSD 4 Hour chart shows crucial support and resistance levels. Price moving up from 200 period SMA.
  • Daily chart shows 50 and 200 SMA converging. So the range that's developing in daily chart may soon get resolved.
  • Price is near the weekly down trend line so a breakout should above this line for a bigger up move. Price closing below 50 and 200 SMA Shall resume the down trend.
  • APPLE CHART UPDATE
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  • Apple hammer from Golden ratio and 100 Day SMA. 
  • Resistance at 50 Day SMA and the zone of 655 - 660. 
  • S&P 500 ANALYSIS AFTER CLOSE
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  • ES Bounces from the key support level of 1424.
  • For the bounce to extend price has to sustain above the 200 period SMA of Four hour chart which was broken earlier.
  • Last chart shows Fibonacci resistance levels for the bounce.
  • S&P 500 ANALYSIS AFTER CLOSE
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  • 10 Day EMA has turned Down But Stochastic is yet to fall below 80% line.
  • Daily chart is yet to close below 20 Day SMA.
  • Recent MACD signals has given decent points but current sell signal may work well only if price manage to sustain below 20 Day SMA.
  • S&P 500 ANALYSIS AFTER CLOSE
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  • SPX 4 Hour chart shows price Near support zone of 1426 - 1430
  • Daily chart shows price approaching the up trend line
  • Price is also falling towards the support zone of daily chart which is between 1422 - 1426. So this zone of 1422 - 1430 may act as strong support for bulls of SPX.
  • CRUDE OIL RESISTANCE LEVELS
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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