July 31, 2013

 
  • Gold one hour and 4 Hour charts near crucial support lines.
  • Daily chart is testing 50 Day SMA.
  • Holding these levels an up move is possible. Daily close below 50 Day SMA may result in a fall.

  • BAC Violating the resistance line of the pennant.
  • For bulls price has to move above 50 Hour SMA for a possible retest of the recent highs. 


 
  • EURUSD 4 Hour chart violating 50 period SMA. Closing below this line may give a good trade as it has done in the recent past.
  • Last chart shows price moving towards 23.6% Fib level. Falling below this level may give a bigger fall for EURUSD.
  • For bulls of EURUSD Need price to close back above 50 period SMA to avoid a fall.
  • GLD CHART ANALYSIS
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  • TESLA Motors shows divergence in daily time frame with RSI. Price has to break below 20 Day SMA for a possible fall towards 50 Day SMA or the channel support line.
  • Strength on sustaining above 133.25.
  • Weakness below 128.18
  • GLD CHART ANALYSIS
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  • Gld Daily chart shows price testing 50 Day SMA.
  • Weekly chart shows price at 23.6% Fib level.
  • Price levels also shows price near previous support level which is acting as resistance. GLD Must break and sustain above these levels for a bigger up move to happen
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  • Copper 4 Hour chart shows a channel breakdown.
  • Weekly chart shows price near the 2011 lows again. 
  • Copper bulls need to take support at the weekly levels shown in second chart and do a breakout above the resistance line for a bigger up move to happen.
  • Weekly close below the support lines will extend the fall in copper.

UPDATED CHART
  • Price took support near 20 Day SMA.

CHART-I
  • Daily chart with MACD Shows weakness before the results announcement.
  • Weekly chart is reacting from the falling resistance line.
  • Price testing 20 Day SMA. Sustaining below this level may lead to more weakness. For bulls must protect 20 Day SMA to move higher.
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July 30, 2013

  • Crude oil continues to fall in a channel.
  • Price trending down below 4 Hour cloud.
  • Price testing 38.2% Fib level. Sustaining below this level may give a fall towards 50% Fib level


  • ES one hour shows a possible ascending triangle pattern. Pattern Mostly works in favor of bulls.
  • Sustaining above the 4 Hour cloud may lead to the recent high's again.
  • Strength above 1688 levels.
  • BIDU Resistance levels
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  • BIDU Weekly chart testing channel resistance line. Bulls need a channel breakout to extend the current up move.
  • Weekly indicators are showing overbought levels but PRICE yet to show Weakness.
  • GAP's in daily chart may attract price towards it if weakness is seen at resistance line.
 
  • 4 Hour chart shows the up move being supported by 50 period SMA. Weakness for the trend only on price falling below this level.
  • Daily chart shows price approaching a resistance line.
  • One hour chart shows price testing 100 Hour SMA. Weakness on hourly time frame on price falling below this line.
  • APPLE Chart update
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  • Nifty in a possible diamond pattern. The support line can be redrawn for this pattern as Price may do a small bounce from either the Golden ratio or the GAP shown in last chart. Diamonds are mostly bearish patterns.
  • Price closed below 200 Day SMA which is a bearish event. If the fall continues below 50% Fib level price may target the Golden ratio or the GAP which is likely to give a bounce.
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  • Apple daily chart shows price approaching crucial resistance line.
  • On a breakout and close above this line, price will move towards the falling 200 Day SMA which is a major resistance level.
  • Apple is moving up from long term support levels as shown in the below link of the previous post. So the chances of a bigger breakout looks high.
  • APPLE LONG TERM SUPORT LEVELS
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July 29, 2013

  • Apple weekly chart moving up from 200 Week SMA.
  • Month chart shows price taking support at 50% Fibonacci level for the up move from 78 to 705.
  • Monthly Stochastic indicator is at oversold levels which need price to stay above 385 and break above 469 levels for the up move to continue.




  • Crude oil One hour chart shows crucial support and resistance lines.
  • 2nd chart shows hourly cloud acting as stiff resistance.
  • Last chart is the daily time frame which shows price at 23.6% Fib level. Crude oil bears has to break and close below this level for a bigger down fall to happen.





  • Wynn Resorts in a contracting triangle pattern.
  • Crucial resistance at 50 Day SMA. Bulls need a daily close above 50 SMA and falling resistance line for a bigger up move to follow.
  • Possible breakdown on closing below 200 Day SMA.
  • TESLA MOTORS WEEKEND UPDATE
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  • Silver near 50 Day SMA and near channel support line So this price contraction may soon get resolved.
  • Channel may get resolved soon for a bigger up move in silver.
  • For bulls need a strong breakout above the daily cloud for a bigger up move to follow. Bears need to stay below the channel to extend the current trend.
  • GOLD WEEKEND UPDATE
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  • ES Four hour chart shows price moving sideways.
  • Price is able to hold above crucial support levels and 4 Hour cloud.
  • Price in a range after an up move is mostly bullish. Strength on price sustaining above the cloud. Weakness on price trading below the 4 Hour cloud.
  • S&P 500 WEEKEND UPDATE
  • TESLA MOTORS WEEKEND UPDATE
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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.

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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