March 27, 2013

CRUDE Oil Chart analysis

  • Weekly chart shows a possible triangle pattern.
  • Daily chart shows price above 50 Day SMA and moving towards the resistance line.
  • Last chart shows price testing 78.6% Fib level. Triangle resistance line is positioned between 78.6% Fib level and the swing High.

Bank of America Chart analysis

  • Bank of america correction in daily chart followed by negative divergence.
  • The fall will gain momentum if price starts to trade below 20 Day SMA and 38.2% Fib level.

GOOGLE Chart analysis

  • Daily chart sustaining below 20 SMA Will favor bears of Google. Price is seeking support at 23.6% Fib level.
  • Weekly chart is showing huge negative divergence which should give a bigger correction. closing below 801 levels may give bigger falls for Google bears.

ES Chart analysis

  • ES Falling from resistance zone shown in 4 Hour time frame.
  • Rising support line and 100 Period SMA will keep the bulls interested.
  • Last chart shows possible Fib support levels.

SBI Head and Shoulders and Analysis

  • SBI Daily chart shows a Head and Shoulders pattern with TWO left shoulders. So price may take support at the current level for forming another right shoulder to complete the pattern.
  • Price is also testing crucial weekly support line from 1571 level.
  • Weekly chart also shows price at Ichimoku cloud. Week must close above the cloud to avoid a bigger fall.

ES Support and resistance levels

  • Move out of the diamond pattern continues to face resistance at higher levels.
  • Price is also getting strong support at 100 period SMA. 
  • Any one of these levels has to break convincingly for a bigger direction to happen.