December 13, 2012

  • Silver daily chart shows price falling towards the support line of a contracting pattern.
  • Price has broken below 50 and 100 Day SMA. If price holds above the up trend line this will be another false break below 100 Day SMA. A bigger fall possible on price breaking below the up trend line.



 
  • Apple weekly chart shows RSI in oversold zone But not yet exhausted. If price stays above the crucial support zone of 505 - 518 we may get an up move.
  • Immediate resistance level is the 20 Day SMA and support at lower Bollinger band.
  • Death cross is done and this level along with 50% Fib level may act as stiffer resistance if apple bulls manage to get there.
  • DOW JONES ANALYSIS AFTER CLOSING BELL


  • ES Correction from 78.6% Fib level pausing at golden ratio. For bears price need to sustain below golden ratio for a bigger fall.
  • Price is also pausing at the Daily Ichimoku cloud and 50 day sma. Holding above these two levels may help bulls to move up again.
  • DOW JONES ANALYSIS AFTER CLOSING BELL
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  • SBI Weekly chart shows price testing resistance zone.
  • Daily chart shows crucial supports at 2282 and 2269
  • Close below 5 Week HIGH EMA may give a correction.
  • BANK NIFTY LIVE CHART WITH AUTO REFRESH
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  • First and second chart shows Dow Jones daily chart forming a PIN BAR candlestick at the resistance zones.
  • Daily chart is also unable to close above the Ichimoku cloud.
  • For bulls price should sustain above 13250 - 13340 zone for a bigger up move to happen. 
 
  • EURUSD Daily chart took support near 23.6% Fib level and is back near the resistance zone between 1.3125 - 1.3168.
  • Weekly chart shows price violating the falling resistance line from 1.49  - 1.45 levels. For bigger up moves price must sustain above the horizontal resistance line shown in the chart.

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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