November 16, 2012

SILVER Support and Resistance levels

  • ES Daily chart shows Resistance at 50 Day SMA.
  • Support is seen at 20 Day SMA.
  • Silver bulls need price to sustain above 4 Hour cloud which may result in up moves.

ES Support and resistance levels

  • ES hour chart shows possible resistance levels in falling resistance line 
  • 50 and 100 Hour SMA also has to be crossed for a bigger up move to happen.
  • Crucial support level is the Golden ratio shown in daily chart.

APPLE Chart update

  • Apple Monthly chart shows price testing March and May month lows. These levels have resulted as support levels in the past.
  • If 516 - 522 zone is broken and week closes below 50% Fib level apple may fall towards the Golden ratio or the Monthly Middle Bollinger band which is near 490 levels.

NIFTY Chart analysis


  • Weekly chart of nifty shows price near crucial support levels.
  • Price is still in a range. Bulls and bears need a weekly close outside the current range for a bigger move to happen.

ES Chart analysis

  • Daily chart shows price nearing the target for the bearish breakdown.
  • Price is nearing the Golden ratio.
  • Price continues to move away from 200 Day SMA.
  • Bulls must hope for a Daily reversal candle at this stage for a possible trend reversal to happen.