October 26, 2012
- EURUSD Testing 50 Day SMA.
- Price is also testing the support line of a triangle pattern in daily chart. Price broke out of the triangle and came back into the pattern. Breaking below the support line should give a faster fall.
- Daily cloud may also act as support for EURUSD.
- ES POSITIVE DIVERGENCE
VERSION - I
VERSION - II
- Rounding bottom of nifty futures is still in play.
- First chart shown with more hits on the circle line. Today's low is crucial for this version.
- Second chart though has more space for bulls. This one takes 5637 Futures low at the circle line and can have some more correction before price hits the circle line.
- Daily chart looks like a Descending triangle pattern.
- Crucial support zone between 2171 - 2191.
- Weekly chart shows price falling below 100 Week SMA. A close below this line should favor bears of SBI. Weekly stochastic too has given a sell signal and a possible fall towards Middle Bollinger Band could happen.
- Crucial resistance levels was the previous support zone of 1422 - 1426
- Crucial support zone for bears to further gain ground is 1396 level and 100 Day SMA.
- 30 Minutes chart shows price doing a range and below the cloud. For a bigger bounce price should get back above the cloud. Sustaining below the cloud should favor bears for more breakdowns.
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