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.
  • 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 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

  • 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.

  • Price took support near 20 Day SMA.

  • 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.

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

  • 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

  • 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.

  • 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.

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.

  • 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.
  • 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.


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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