April 26, 2013

  • Gold daily chart reacting negatively from the broken support line.
  • Four hour chart shows up move pausing at Golden ratio.
  • channelized up move of four hour chart also looks like  a bearish Flag pattern.
  • All the negatives mentioned above will change if price manage to close back into the channel of daily chart from where the correction started.

  • Facebook Daily is struggling near 50 Day SMA and Weekly chart is unable to close above 20 Week SMA.
  • Facebook bulls need a weekly close above 27.70 levels for a bigger up move to follow.
  • Price in a contraction pattern as shown in second chart which will resolve soon to give a bigger move.

  • Bullish breakout from the 15 Minutes chart pattern along with support at Hourly ichimoku cloud may take es Higher.
  • If the Hourly cloud does not act as support price could fall to the rising support line shown in last chart.




  • Nifty daily chart continues to break and close above resistance levels. Next in line is the 78.6% Fib level and Price resistance between 5970 - 5980.
  • Monthly chart shows 5 High EMA at 5945.
-->
 
  • Weekly chart shows a bull flag continuation pattern.
  • Its a big pattern with higher targets but for now the level to cross is 284 as shown in second chart. Weekly chart shows an up trend which will extend on closing above 284 levels.

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