January 2, 2013
- 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
- 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
- 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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