- Crude Oil resistance near 50 Week SMA and the daily chart with fib level shows bulls struggling near golden ratio.
- Price near the resistance line of the contraction pattern. We may see weakness from the resistance line to keep price within this pattern for some more time. A bigger move could come only on a decisive breakout on a weekly closing basis.
- FACEBOOK INTRADAY UPDATE
January 8, 2013
- Price continues to trade inside the weekly cloud. Breakdown below 500 could start the slide. For bulls need a close above 555 for a bigger up move to happen.
- Daily chart shows 50 day SMA and daily cloud as crucial resistance levels.
- Last chart shows a support zone just above Golden ratio. If this support zone gets broken Golden ratio too may not hold and the stock could slide to much lower levels. Price holding above Golden ratio could start a bigger up move.
- FACEBOOK CHART UPDATE
- Daily chart shows a bearish engulfing pattern which needs confirmation with a negative candle and high volume.
- It's crucial for bears to close below the remaining portion of the GAP between the last candles low at 5977 to 5963.
- Price has closed below 5 Day High EMA. Next support at Day low EMA(5964). Daily close below day low ema should favor bears to extend the fall.
- Dow Jones Daily chart shows weakness at 78.6% Fib level.
- Weekly chart shows crucial support at 13280 levels.
- Last chart shows price getting resisted at Upper bollinger band. Negative close today could give a correction towards Middle bollinger band.
- FACEBOOK BULL FLAG
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