December 18, 2012

ES Chart update

  • ES Four hour chart shows possible resistance line.
  • Daily charts shows possibility of a bigger up move if price closes above the resistance lines and 78.6% Fib level. In that case the resistance line shown in the first chart may not stop bulls from further up moves.

EURUSD Chart update

  • EURUSD Weekly chart sustaining above 38.2% Fib level and resistance lines. A weekly close at the current levels or higher should extend this up move.
  • Price falling back below the resistance level shown in second chart will be negative for the bulls of EURUSD.

BANK of America Chart analysis

  • BAC near 200 Week SMA.
  • Daily chart with fib levels for the fall from 15 to 4.90 shows price nearing the golden ratio.
  • For the up move to continue these two levels has to be closed above on closing basis.

FACEBOOK Chart analysis

  • Facebook has given a Doji daily candle at 20 Day SMA. Price managed to close above this crucial moving average after violating the trading range.
  • Daily chart shows a MACD sell signal which will be effective only if price manage to stay below 20 Day SMA.
  • Last chart shows price testing crucial fib level in daily time frame.

APPLE Bullish Engulfing

  • Apple daily chart shows a bullish engulfing pattern at crucial support levels.
  • Monthly chart hits the 20 Month SMA If price stays above this level we may see a good bounce. 
  • Weekly chart shows price near the base of weekly Ichimoku cloud which is a good place for a bounce. Bears need a weekly close below the cloud for a bigger down move.

S&P 500 Analysis after closing bell

  • SPX Daily chart found support at 50 Day SMA. 
  • Daily chart is yet to clear the falling and horizontal resistance lines. Close above 1440 will add strength for bulls.
  • Daily chart shows a close above the Ichimoku cloud which will favor bulls to extend the up move.

CRUDE OIL Chart analysis

  • Crude oil daily chart shows a triangle pattern.
  • Price above 50 Day SMA But nearing 200 Day SMA. This zone between 50 and 200 SMA is crucial for crude oil bulls. A bigger up move possible only on a triangle breakout and closing above 200 SMA.
  • Weekly chart shows a range between 23.6% and 38.2% Fib levels. Bigger moves once this range gets resolved.