March 19, 2013

 
  • Bulls are getting support at 100 Period SMA of four hour chart as shown in first chart. Bears need to break this level for extending gains.
  • Second chart shows immediate price support levels.
  • Last chart shows Fib support levels.
  • APPLE CHART UPDATE
-->
  • Weakness at 50 Day SMA and four hour cloud.
  • Price falling towards 200 Hour SMA. More weakness if 200 Hour SMA Does not hold.
-->
 
  • Crude oil daily chart getting resisted at previous support level.
  • Broken 50 day sma too is acting as resistance.

  • APPLE Daily chart has violated the down trend line from 705 levels.
  • Price is nearing Daily upper bollinger band and 50 Day SMA.
  • Daily close above 50 SMA and Upper bollinger band may help bulls to extend this up move.
  • S&P 500 ANALYSIS AFTER CLOSING BELL
-->
 
  • ES bulls continues to struggle at 78.6% Fib level and the channel support line.
  • Price is staying above crucial moving averages as shown in last chart.
  • For bears price sustaining below 50 Period SMA may lead to a bigger fall.

  • SPX Daily taking support at 23.6% Fib level.
  • Second chart shows price testing middle line of the ascending channel. Price has to close below this line for bears to have a correction towards 1530 levels initially.
  • Weekly chart shows negative divergence with price and rsi. RSI falling below 70% line may give a bigger fall. 
  • Copper has broken the support line of the weekly triangle pattern.
  • Daily chart shows price testing crucial support level.
  • Sustaining below 3.39 levels may push price down towards 3.27 levels.



  • ES bulls need to break above 78.6 % Fib level and Hourly cloud to extend the up move.
  • Broken channel support line is also acting as resistance.
  • Unable to clear the above mentioned levels may lead to a correction.

Disclaimer

All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.

Followers

Blog Archive

Powered by Blogger.

My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore