December 4, 2012

  • Silver testing 50 Day SMA.
  • 4 Hour chart has broken below the cloud. During the last test of 50 SMA Price was above the 4 Hour cloud. So chance of a bigger correction exist if price sustains below 50 Day SMA.



 

  • Crucial support for bulls on closing basis is the 200 Day sma.
  • Crucial resistance level is the 50 Day SMA. Violating these levels on closing basis may give a bigger up move. For bulls the daily cloud and golden ratio too may act as resistance if the up move continues. For a bigger rally bulls must do a cloud breakout.
  • ES SUPPORT AND RESISTANCE LEVELS
-->
  • First chart shows 4 Hour time frame with rising support line. Price testing this rising support line.
  • Resistances in Daily cloud and 23.6% Fib level, 100 Day SMA.
  • For bears break below the rising support line would give an extended fall.
 
  • SPX Bulls unable to sustain above 50 Day SMA.
  • Price is moving down from Golden ratio
  • Crucial support zone between 1396 - 1403. Break below this level may result in a bigger fall. Sustaining above this zone may give an up move towards the cloud as shown in the last chart.


  • Nifty fib level shows the resistance @  78.6% which comes at 5951
  • Weekly resistance zone between 5906 - 5941
  • Last chart shows possible resistance line. 
  • BANK NIFTY LIVE CHART WITH AUTO REFRESH
-->

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