April 15, 2013

APPLE Head and Shoulders pattern

  • Apple 4 Hour chart shows  a possible head and shoulders pattern.
  • Recent Bounce could not move past 38.2% Fib level and 50 Period SMA of 4 Hour time frame. Hope for bulls only if price break above these levels.

ES Chart analysis

  • ES nearing crucial support levels.
  • A bigger breakdown too looks possible. Daily candle closing below 20 SMA or Middle bollinger band may extend the fall further.

SILVER Chart update

  • Silver weekly chart shows a bearish Descending triangle breakdown. 
  • Hope for silver bulls is the Golden ratio shown in monthly chart. If price forms a basing formation here we may see an up move,
  • Oversold up moves if happens will find it tough to cross the broken 200 Week SMA. This level shown in last chart will act as stiff resistance for now.

GOLD Chart update

  • First chart of gold shows the target for the range brakdown
  • Second chart shows price breaking 200 Week SMA. Sustaining below it will be bad news for Gold bulls.
  • Price has broken below 38.2% Fib level, Sustaining below it may target 50% Fib level

BANK NIFTY Chart analysis

  • Bank nifty first chart shows a possible bullish breakout. But price is near serious resistance levels. For the breakout to sustain price must close above 200 Day SMA. and the recent swing low of 11590.
  • Price has managed to close above 23.6% Fib level. If it does not sustain above this level we may see a fall again.