My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
January 18, 2013
BANK of America Support levels
- Daily chart nearing lower bollinger band.
- Daily Fibs shows immediate support level at 38.2% Fib level.
- Weekly fibs shows price testing Golden ratio. For bulls of BAC Price must close the week above 61.8% Fib level to avoid a bigger correction.
- CITIGROUP CHART UPDATE
ES Support and Resistance levels
- ES 4 Hour chart shows the resistance line which is holding bulls from making a bigger move.
- Hour chart shows a small pennant. Blue lines shown in chart may act as support on a correction.
- Last chart shows Fibonacci support levels in hourly time frame.
- CITIGROUP CHART UPDATE
CITIGROUP Chart update
- CITIGROUP Has broken below the range.
- Price is testing 20 Day SMA and 23.6% Fib level. Holding above this level may see an up move back into the range.
- Breaking below 20 SMA could lead to a GAP fill and test of 38.2% Fib level today.
- GLD CHART UPDATE
STAPLES Chart Analysis
- STAPLES Chart violating the falling resistance line.
- Price has managed to move above 200 SMA. Sustaining above this level should lead Staples to newer high's.
- Next resistance is seen at the weekly cloud. A change of trend will be possible only on trading above the weekly cloud.
- GLD CHART UPDATE
GLD Chart Analysis
- GLD Moving towards channel top in daily time frame.
- Price testing 50 Day SMA.
- Weekly chart is bouncing from 100 Week SMA. Price sustaining above 100 Week SMA should lead to a breakout above the falling resistance line.
- CRUDE OIL CHART UPDATE
NIFTY 4 Hour and 5 Minutes charts
4 HOUR CHART
5 MINUTES CHART
- Nifty 4 Hour chart shows price testing a resistance line. Bulls need price to sustain above this line to continue the up move. Weakness here may result in a correction towards the bottom of the channel.
- 5 Minutes chart shown with crucial levels for the day.
- M&M Weekly sell signal
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