April 3, 2013

 
  • ES Falls below the 100 period SMA of four hour time frame which has held so far on closing basis. Now a close below this level may give an extended fall.
  • For now the 23.6% Fib level is trying to prevent a bigger fall from happening. Sustaining below this level could give a fall towards 38.2% Fib level.
  • Facebook four hour time frame nearing resistance areas.
  • Price near falling resistance line from 32 levels.
  • Fib levels shows price near 50% Fib level and 50 period SMA.
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  • ES Falling from the resistance line discussed in yesterday's post. Resistance line in 4 Hour chart has worked well so far.
  • Now 4 Hour chart also shows support in  a dotted up trend line. Below this line price may test 100 period SMA.
  • IWM CHART ANALYSIS
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  • IWM Violating crucial rising support line.
  • Price has violated 20 Day SMA and has next support at 50 Day SMA.
  • Fib levels shows price closing at 38.2% Fib level. Breaking this level may lead to 50 SMA and 50% Fib level
  • SILVER Daily chart shows price continues to create new lows.
  • Weekly chart shows approaching support zone between 26.02 - 26.75.
  • Monthly chart shows the same support zone shown in weekly chart and the Golden ratio for 8 - 49 levels which is also a support level which may get tested if there is a big fall.
  • ES SUPPORT AND RESISTANCE LEVELS
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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