- COPPER Weekly chart testing symmetrical triangle's support line.
- Daily chart shows price falling to a support zone.
- Daily chart also shows possibility of a Bearish "M".
- If price takes support near weekly triangle support line then an up move is possible thus invalidating the above bearish possibility.
My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
March 1, 2013
COPPER Chart analysis
ES Support and Resistance lines
- Resistance lines chart was posted yesterday and price moved up till first resistance line before falling.
- Now for the current fall price is likely to test the first support line were it may take support.
- S&P 500 ANALYSIS AFTER CLOSING BELL
SILVER Support and Resistance levels
- First chart shows a possible support line in daily chart.
- Next two charts of 4 Hour time frame shows resistance levels that must be crossed if bulls are to make a bigger pull back.
- S&P 500 ANALYSIS AFTER CLOSING BELL
ORACLE Sell signals
- ORACLE Weekly MACD lines about to give a bearish cross.
- Weekly chart also shows Stochastic sell signal and price falling from crucial resistance levels. Bears need a close below 20 Week SMA for bigger falls to happen.
- For now price is likely to fall towards the rising support line shown in last chart.
- S&P 500 ANALYSIS AFTER CLOSING BELL
NIFTY Chart update
- Equation is simple for nifty. Pause at 78.6% Fib level may result in a bounce.
- Breaking below 78.6% Fib level may attract more selling towards 200 Day SMA or Weekly Lower Bollinger Band.
- BANK NIFTY CHART ANALYSIS
S&P 500 Analysis after closing bell
- SPX Weekly chart shows price forming another indecisive candle, Price is likely to remain a range for one or two weeks before breaking down.
- Daily chart has given a Shooting star candle at the top of the range and price likely to test the lower end of the range.
- One hour chart also made a bearish close towards the end of the day.
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