January 2, 2013

  • Apple showing weakness near 50 Day SMA.
  • Price is also testing the falling resistance line and the 4 Hour cloud.
  • Apple bulls need a close above these levels for extending the up move.
  • CRUDE OIL RESISTANCE LINES
  • GOLD CHART UPDATE
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  • Possible resistance lines for spx daily chart.
  • CRUDE OIL RESISTANCE LINES
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  • CRUDE Oil Daily chart breaking above resistance line
  • Daily and Weekly charts are approaching stiffer resistance lines. 
  • Weekly chart shows falling resistance line from 110 levels which will act as strong resistance. Crude oil bulls must sustain above this level for bigger up moves to follow
  • GOLD CHART UPDATE
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  • GOLD Weekly chart rising from 100 Week SMA
  • Daily chart shows 50 Day SMA and the falling resistance line as immediate resistance levels. Crossing these levels on closing basis may lead to bigger up moves.
 
 
  • QQQ Daily and weekly chart shows bullish engulfing patterns.
  • For Bulls price need to close above the immediate resistance levels of 20 and 200 Day SMA for extending gains.
  • Weekly RSI is turning up from oversold ZONE. Price need to follow up by breaking the falling resistance line for a bigger up move to follow.
  • FACEBOOK BULL FLAG

  • 5 Minutes chart shows the two unfilled GAPS. Intraday weakness below 5982
  • 4 Hour chart shows the most important price action. Usually GAP up's from the ranges like these act as runaway GAP'S They end giving good up moves.
  • Only Hope for bulls is to expect a false breakout. Price closing the day back into the range may give a good short trade.
  • BANK NIFTY LIVE CHART- 5 MINUTES TIME FRAME
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  • First chart shows price near 20 Day SMA. Bulls need to close above this level for an up move to happen.
  • 2nd chart shows price holding above the up trend line from 18 levels. Bulls need to sustain above this line for the bullish pattern to play out.
  • Last chart shows the potential bullish flag pattern and the oversold stochastic indicator. Price closing above the resistance line of the flag may give a bigger up move.
  • DOW JONES CHART 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