February 13, 2013
- Facebook testing the 38.2% Fib level in daily chart.
- Daily chart shows a possible Falling wedge pattern.
- Bulls must take care as price is below 50 Day SMA it could extend the fall on trading below 38.2% Fib level.
- Falling wedge may work well for bulls if price starts to trade above 50 Day SMA.
- APPLE RESISTANCE LEVELS
- Nifty Daily chart shows bullish engulfing pattern But need price to trade and close higher above the falling resistance line for a pullback to happen.
- Immediate resistance levels in daily chart are the 5 Week High EMA and 50 Day SMA.
- 5 Week Low EMA is acting as support for now. A trending down move may happen if price sustains below this level.
- BANK NIFTY LIVE CHART- 5 MINUTES TIME FRAME
- First chart of apple a Weekly time frame shows confluence of resistance lines stopping price from moving up.
- Second chart too is bearish as price is stopped at the 100 Week SMA. This level must be crossed above if bulls are going to Fade the GAP in daily chart completely.
- Last chart shows the GAP in daily chart. Weakness seen in chart before the GAP is faded completely. Price closed back below 20 Day SMA.
- ES RISING WEDGE
- ES One hour chart shows a bearish rising wedge pattern.
- 30 Minutes chart shows price respecting a short term trend line. Sustaining above this line may lead to new highs. Price must break this trend line and the rising wedge support line for a bigger correction to happen.
- EURUSD RANGE UPDATE
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