August 31, 2013

  • SLV Shows weakness near Weekly Upper Bollinger band and the GAP shown in daily chart.
  • Price is fast moving towards the 23.6% Fib level which may act as immediate support. If this level does not hold price may fall to the rising 20 Day SMA in the short term.
  • S&P 500 Weekend update
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  • Daily chart shows bulls trying to hold above the cloud. Breaking the cloud on closing basis will strengthen bears further.
  • Bulls need to trade above 100 Day SMA to avoid a fall.
  • Weekly up trend line is not violated yet. Taking support at this line may save bulls from a bigger fall. 
  • Weakness Below 1627. Strength on closing above 100 Day SMA.
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  • GOOGLE Daily chart is testing previous resistance level at 843 which may act as support.
  • Previous support is also the 50% Retrace level in daily chart.
  • Weekly is not looking good for bulls as price makes another close below 20 Week SMA and is likely to target the Weekly lower bollinger band in the coming weeks.

August 30, 2013

  • Silver daily chart is showing weakness at 200 Day SMA.
  • Hour chart continues to be weak and has fallen below both 50 and 200 Hour SMA.
  • 4 Hour chart is testing the cloud. Getting support here may resume the up move. Breaking below the cloud may result in a bigger correction



 
  • Crude oil takes support at 50 Period SMA and the Golden ratio in four hour chart.
  • Weakness only on breaking below 106.75 levels.
  • Strength on sustaining above 108.15 levels.

  • ES Hour chart shows a corrective up move which is forming a bear flag kind of pattern.
  • Crucial resistance here is the 200 Hour SMA. Closing above this level may favor bulls for a bigger up move.
  • Weakness near 200 Hour SMA may lead price towards the lows near the 50% retrace level shown in daily time frame. Bears will gains strength on closing below 50% Fib level.

  • Tata Motors weekly chart is testing the resistance line of the triangle. Last breakout was not successful. Breakout on closing basis this time and a move above 315 - 320 levels may give a bigger up move for the stock.
  • Weakness here may take price back towards the weekly cloud. Weekly cloud is acting as strong support for the stock. Holding above the cloud price is likely to move higher.


  • Crude oil daily has fallen back into the range. 
  • 4 Hour chart also shows price falling back into the triangle pattern. Price closing inside the daily rang may give a bigger correction for crude.
  • One hour chart shows price near Golden ratio and 50 Hour SMA. Breaking this level may extend the current fall.

August 29, 2013

 
  • Gold one hour chart shows support at 38.2% Fib level
  • Immediate resistance at 50 Hour SMA.
  • 30 Minutes chart shows a bullish falling wedge pattern.
  • 50 Hour SMA is the immediate resistance level shown in One hour time frame. Closing above this level may give a decent bounce for ES Bulls.
  • Crucial supports are shown in daily charts. 50% Fib level and Cloud Base is getting tested. Daily close below these levels may extend gains for ES Bears. Taking support at these levels should result in a bounce.
  • GOLD Support and Resistance levels
  • SILVER Chart update
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August 28, 2013

 
  • Silver testing 200 Day SMA.
  • Silver bulls need a daily close above 200 SMA to extend gains. Closing above 200 SMA may also give a weekly close above 38.2% Fib level which should take this up move towards the Broken support line of the Weekly Descending triangle.
  • Price unable to close above 200 Day SMA may lead to a fall.
  • GOLD Support and Resistance levels
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  • GOLD One hour chart shows price making new high's above the rising support line.
  • But Monthly charts are fast approaching crucial resistance levels which has to be crossed for extending this up move.
  • Between 1435 and 1450 Price has to cross 50 Months SMA and 38.2% Fib level which were broken during the previous down move. So this zone may act as resistance. Daily close above this zone will make gold bulls stronger.
  • CRUDE Oil testing the breakout
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  • One hour chart shows price testing yesterday's lows.
  • 30 Minutes chart shows price trending below 50 Period SMA.
  • 15 Minutes time frame shows price below the cloud. Sustaining below the cloud will extend the fall. 
 
  • Crude oil daily chart shows price testing the range breakout.
  • Sustaining above 109 levels this up move will continued. Weakness on price falling back into the range. 
  • Below 109 price may dip towards the Triangle resistance line as shown in second chart.
  • S&P 500 Analysis after closing bell
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  • First chart shows the recent Dips below 100 Day and the up move which followed. So bears need follow up to strengthen this move.
  • Daily chart shows price nearing Golden ratio which may act as a pause or a support level for bulls.
  • Weekly chart shows a rising support line which should also be taken out by bears to extend the down move.
  • APPLE Support and Resistance levels
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  • Apple MACD looks bearish and if price falls below 20 Day SMA at 482 It may extend correction towards the 200 Day SMA.
  • Immediate support levels for Apple at 482 and 484 which is the 20 SMA and the 23.6% Fib level.
  • Weakness in weekly chart at 100 Week SMA is helping bears to extend gains. A bearish weekly candle here will strengthen bears further.




August 27, 2013

 
  • GOOGLE daily chart shows price below 100 Day SMA.
  • Daily chart also shows price nearing crucial support zone between 843 - 848
  • Price also near 50% retrace level. Close below 848 may take price towards 825 levels. For bulls need to protect 843 - 848 price zone.
  • APPLE Weekend update
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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