March 20, 2013

  • EURUSD Daily chart trying to stay above 78.6% Fib level.
  • For a reversal price must move back above 200 Day SMA.
  • Price falling below 1.28 levels may take price towards 1.26 levels.
  • ES CHART ANALYSIS
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  • Apple hour chart shows 50 and 200 Hour SMA aligning for a bullish cross. Another way of looking at it is if price falls back below 200 and 50 Hour SMA then 50 Hour SMA instead of doing a bullish cross may do a fast fall.
  • 50 period SMA of 4 Hour shows price above the SMA. Recent falls below this moving average has resulted in big corrections and expecting the same to continue if price falls below it again.  

  • ES 4 Hour charts shows price back to its resistance levels.
  • One hour chart also shown with the 78.6% Fib level which is stopping bulls from moving up so far.
  • Last chart shows price above 50 period sma. Weakness on price falling below this level.
  • APPLE Daily chart shows weakness at 50 Day SMA and Daily upper bollinger band
  • Weekly chart is trying to move above 5 Week HIGH EMA. If weekly close is above this level we may see a bigger bounce. For now though price is showing weakness mentioned in the daily resistance levels.


  • Price testing crucial weekly support level near 332 - 333 levels.
  • Second chart shows price forming bearish weekly candles below 5 Week High EMA. Stock will continue to stay weak below this level.
  • Last chart shows turnaround levels. Above 362 current down trend will become weak. Further weakness below 332
  • AIRTEL HEAD AND SHOULDERS PATTERN
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"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