Blackberry daily chart shows price trying to breakout of a triangle pattern.
Weekly chart shows price trying to stay above 100 Week SMA after a long GAP. Bulls of Blackberry need a weekly close above this line to confirm bullishness.
Apple weekly candle is testing 5 Week High EMA. Price has failed to sustain above this level resulting in strong down trend. Now Weekly MACD is showing positive Divergence for divergence to work price must sustain above this level on weekly closing basis.
Up move will be tough to extend with the presence of resistance levels in daily chart like the 50 Day SMA and the Daily Ichimoku cloud.
Any Weakness near the daily cloud means the Divergence has to wait some more weeks to start performing.
Bank nifty futures hour chart has fallen below the Ichimoku cloud. But price is yet to break below crucial support level of 12345 and 23.6% Fibonacci level.
For bigger falls price must break the levels shown in chart 2 and 3 on closing basis.
15 Minutes chart shows price correction towards range Top (5918 - 5924). Sustaining above this level up move may resume. Intraday weakness on falling below this level back into the range.
For bigger up moves price must takeout the resistance levels shown in the next two charts convincingly.
Reliance Communication Chart shows resistance levels for the current up move at 109 and 113.
Price volume picture is completely different for Rcom this time. Current up move is supported by strong buying volume.
Weekly chart shows price trying to stabilize above Weekly Ichimoku cloud which is good for the long term trend of the stock. Now if the correction or dip towards the cloud happens with lesser volume then Weekly cloud may act as support for more buying opportunities.
SPY Four hour chart shows price at the top of the range. No breakout yet.
One hour chart shown with 20 Hour SMA. Weakness on hourly close below 20 Hour SMA. Possible breakdown or reversal of trend in this time frame on breaking below 157.74.
Crude oil one hour chart shows price above 50 and 100 Hour SMA. Price sustaining above 50 and 100 Hour SMA will extend this up move towards 78.6% Fib level.
78.6% Fib level is around 94.80 which is a possible resistance level. Price may also form an inverted head and shoulders pattern with Neckline at 94.80 level.
Gold one hour bullish cross continues to do well. Up move will be safe as long as price stays above 50 and 100 Hour SMA.
Second chart shows price contraction between support and resistance lines. Breakout above the resistance line will extend this up move which also means breaking back into the daily channel shown in last chart. Daily close back into the daily channel will add strength for the bulls of GOLD.
EURUSD Daily chart shows Death cross. Price has to sustain below 50 Day SMA for the cross to be effective.
Right now price is moving towards 100 Day SMA which is a possible resistance level. Bearish cross will be ineffective if price starts to trade above 100 Day SMA.
Last chart shows potential Fibonacci resistance levels.
