December 12, 2012

ES Chart update

  • ES Daily chart near Horizontal and falling resistance lines.
  • Price also near 78.6% Fib level.
  • Trading above 80% retrace level should give a complete reversal and fresh high's for ES.
  • Unable to close the day's candle above 78.6% Fib level will be negative for bulls.

FACEBOOK Chart update

  • FACEBOOK Daily chart is doing a consolidation above the GAP in daily chart. Price holding above 26.68 levels should extend the current up move in facebook. 
  • Indicators are showing overbought readings in daily chart But price if stays above crucial support levels like 20 SMA and 26.68 levels should stop a bigger correction from happening.
  • Falling back into the filled GAP area will be bearish for FB.

HDIL Chart analysis

  • HDIL Weekly chart nearing overbought zone.
  • Weekly resistance at 122 level. Bulls need a weekly close above 122 for a possible target of 135.
  • Daily charts are showing negative divergence which need confirmation before going short. Weakness on trading below 115 levels.

NIFTY Weekly resistance levels

  • NIFTY Shows weakness near Previous weekly high of 5944. This level is closer to the 78.6% Fib level and a possible resistance line shown in first chart.
  • So multiple factors in weekly chart stopping bulls from moving ahead. Bulls need a weekly close above these levels for a bigger up move to happen. Weakness only on trading below 5838 and 5815 levels on daily closing basis.

S&P 500 Analysis after closing bell

  • SPX Managed to close another day above 50 Day SMA and above Golden ratio. But price showed resistance near the resistance lines shown in first chart.
  • Day high was also at the Daily Ichimoku cloud. So Bulls need a close above the cloud and resistance lines to continue this up move.