- EURUSD Seeking support at 50 Day SMA.
- 2nd chart shows possible support levels in 4 Hour time frame.
- Last chart shows price getting resisted at Ichimoku cloud of 4 Hour time frame. This level will continue to act as resistance on up moves.
- CRUDE OIL CHART ANALYSIS
February 20, 2013
- MCX Copper daily chart shows price below the rising support line
- 2nd chart shows a possible head and shoulders pattern. Price nearing the neck line of the pattern. This area between 432 and 435 may act as strong support level.
- Further breakdown only if bears of copper manage to break below the zone between 432 - 435.
- Nifty moving up towards crucial Fib levels and Moving averages like 50 and 20 Day SMA which may act as resistance levels.
- Daily MACD is aligning well for a bigger up move But price has to close back above the resistance levels mentioned above. Closing back above the daily Ichimoku cloud may also add momentum for bulls.