January 10, 2013

  • First chart shows possible resistance levels for EURUSD.
  • 2nd chart shows price nearing 100 Week SMA. Bulls of EURUSD Must close above this line for a bigger up move to happen.
  • GOLD CHART ANALYSIS
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  • GOLD Daily chart with channel support and resistance lines.
  • Second chart shows price below the daily cloud. For an up move to happen price must trade above the daily cloud.
  • Last chart shows Gold seeing support at the golden ratio.




 
  • Month chart of apple shows bulls trying to hold above 20 Month SMA. Price may test this zone again, If this is not held we may see a bigger correction in apple.
  • Weekly chart shows crucial support between 500 - 505. Trading below 500 may lead to a quick fall towards 100 Week SMA at 476.
  • For bulls daily chart shows 20 and 50 SMA as the Immediate hurdles. Price must trade above 550 levels for a possible turn of the short term trend. 
  • MICROSOFT IN A RANGE
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  • MSFT Weekly chart shows a range between 26.26  -  27.77
  • Price near the support zone and Weekly MACD is positioned for an up move ONLY if the support zone is held and follow up by breaking above the falling resistance line shown in second chart.
  • Major hurdle for bulls in daily chart is the 50 Day SMA. Price need to stay above 50 SMA for a bigger up move to follow.
  • TATA Steel closed below its 20 Day SMA.
  • Price is near its short term up trend line in daily chart.
  • Crucial support at 200 Day SMA(412).
  • Crucial resistance in monthly chart at 20 Month SMA. 
  • TATA MOTORS TARGET LINE
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  • TATA MOTORS Weekly chart shown with possible Target or Resistance line.
  • Weekly MACD continues to remain strong which should take the stock above 345 - 350 levels before a major correction.
  • Up trend in daily chart will be safe above 20 Day SMA.
 
 
  • Bank of America Weekly chart shows price trading below 200 Week SMA.
  • Daily chart shows price testing 20 day SMA.
  • Last chart shows weakness at 50% Fib level.
  • Weekly and daily close below 200 Week SMA and 20 Day SMA will favor bears of BAC.
  • For bulls price need to trade above 200 Week SMA and 50% Fib level

 
  • SILVER Daily chart shows price trying to take support at the Golden ratio
  • Weekly chart shows price testing Lower Bollinger band.
  • Last chart shows price holding above weekly up trend line. If the above mentioned are to be held a bigger up move looks possible in Silver.

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"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