February 26, 2013

GBPUSD Chart analysis

 
  • GBPUSD Monthly chart shows a bearish breakdown from a triangle pattern.
  • Daily chart too shows  a Double top breakdown.
  • Weekly chart shows price at a possible Support line. Holding this line a bounce is likely to happen.
  • As we approach month end if the monthly trend is to become stronger then Weekly support line is unlikely to hold.
  • EURUSD CHART ANALYSIS
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EURUSD Chart update

  • EURUSD Weekly chart shows the trend line violating from 1.20 levels.
  • Price falling towards crucial support of 200 Day SMA.
  • Confluence of support at 50% Fib level and 200 SMA may act as strong support level.
  • ES CHART UPDATE
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QQQ Chart Update


  • QQQ Daily chart shows price testing 100 Day SMA.
  • Below 100 SMA and 66.17 price could fade the GAP shown in second chart.
  • Last chart the weekly time frame shows a possible bearish Head and shoulders pattern. For now price may move towards the rising trend line from 50 levels.
  • SPX ANALYSIS AFTER CLOSING BELL
  • IWM SUPPORT LEVELS
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S&P 500 Futures chart update

 
  • ES 4 Hour chart is consolidation below 200 Period sma. It was a similar price action yesterday which was below 100 Period SMA.
  • 4 Hour has clearly fallen below the Ichimoku cloud which will put pressure on bulls at higher levels.
  • One hour chart shows another bearish flag kind of consolidation which happened yesterday.
  • SPX ANALYSIS AFTER CLOSING BELL
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IWM Support levels

 
  • IWM Has given another bearish engulfing pattern in daily chart.
  • Immediate support level at 23.6% Fib level and 88.69. 
  • Breaking the above mentioned support level may lead to 50 Day SMA and the Unfilled GAP shown in the last chart.
  • SPX ANALYSIS AFTER CLOSING BELL

NIFTY Intraday update

  • NIFTY Falling from the head and shoulders pattern.
  • Price has clearly violated 100 Day SMA. Bears need a daily close below 100 SMA for further gaining strength.
  • For bulls approaching Golden ratio may give a hope for reversal Any reversal from the current levels should close back above 100 SMA for a meaningful pullback to happen.



TATA Steel channel and support levels



  • TATA Steel daily chart falling in a channel.
  • Falling below 358 may extend the fall towards 347 levels.
  • Monthly chart shows chances for even bigger falls if 347 levels does not hold. 
  • DLF BEARISH ENGULFING PATTERN
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DLF Bearish Engulfing pattern

 

  • DLF Daily chart shows a bearish engulfing pattern.
  • For bears price need to fall below 20 Day SMA for a bigger correction to happen.
  • Weekly chart shows a Rounding bottom pattern which may avoid a breakdown.
  • TATA STEEL CHANNEL AND SUPPORT LEVELS
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S&P 500 Analysis after closing bell

 
  • First chart shows the beginning of the fall from the weekly resistance line.
  • Second chart shows the next level which bears need to takeout to extend the fall.
  • Finally the last chart shows possible depth of the fall if MACD Sell signal gets confirmed.
  • BANK OF AMERICA CHART UPDATE
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GOLD Chart update


  • GOLD 4 Hour chart with falling resistance line.
  • Other two charts also shows potential resistance levels. 50 Period SMA and 38.2% Fib levels may act as resistance levels.