November 20, 2012

 
  • QQQ Daily below 20 Day SMA.
  • Weekly chart below 50 Week SMA
  • There is a falling resistance line in weekly chart which may also act as resistance.
  • For a bigger up move bulls must cross these levels on closing basis.
-->




  • Hammer of Apple is doing well so far, APPLE Daily chart moving towards 20 Day SMA and the falling resistance line shown in second chart.
  • Daily MACD is showing a buy signal.
  • Weekly stochastic too is shown a bullish crossover But one should be cautious as the stochastic lines are still in  oversold zone.
  • Bigger up moves possible on daily closing above 20 Day SMA and the falling resistance line shown in second chart.
  • APPLE WEEKEND UPDATE
-->

  • ES Daily chart testing 200 Day SMA.
  • 4 Hour chart shows price testing 38.2% Fib level and a crucial support resistance zone. Above this zone price could move towards the falling resistance line shown in second chart.
  • Bears need price to fall and trade below 200 Day SMA.
  • DOW JONES ANALYSIS AFTER CLOSE
-->
 
 
  • Dow Jones daily chart shows good reversal move and a closing which is closer to the day's high. But price is yet to reach 200 Day SMA.
  • 20 Day SMA and 200 Day SMA is showing a bearish cross, This area will be tough to cross if price gets this far.
  • Price resistance between 12977 - 13038 is also near this resistance levels.

Disclaimer

All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.

Followers

Blog Archive

Powered by Blogger.

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