April 29, 2013

  • Crude oil one hour chart shows price above 50 and 100 Hour SMA. Price sustaining above 50 and 100 Hour SMA will extend this up move towards 78.6% Fib level.
  • 78.6% Fib level is around 94.80 which is a possible resistance level. Price may also form an inverted head and shoulders pattern with Neckline at 94.80 level.
  • DEATH CROSS EURUSD
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DAILY CHART
4 HOUR CHART
 
DAILY CHART
  • Price trying to stay above the falling resistance line in daily chart.
  • 4 Hour chart also shows a declining resistance line which must be crossed on closing basis for a bigger up move to happen.
  • Daily chart also has 100 Day SMA as strong resistance level.
  • DEATH CROSS EURUSD
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  • Gold one hour bullish cross continues to do well. Up move will be safe as long as price stays above 50 and 100 Hour SMA.
  • Second chart shows price contraction between support and resistance lines. Breakout above the resistance line will extend this up move which also means breaking back into the daily channel shown in last chart. Daily close back into the daily channel will add strength for the bulls of GOLD.
  • US OIL CHART ANALYSIS
  • HEWLETT PACKARD SUPPORT LEVELS
  • S&P 500 WEEKEND UPDATE
  • APPLE WEEKEND UPDATE



 
  • EURUSD Daily chart shows Death cross. Price has to sustain below 50 Day SMA for the cross to be effective.
  • Right now price is moving towards 100 Day SMA which is a possible resistance level. Bearish cross will be ineffective if price starts to trade above 100 Day SMA.
  • Last chart shows potential Fibonacci resistance levels.
  • US OIL CHART ANALYSIS
  • HEWLETT PACKARD SUPPORT LEVELS
  • S&P 500 WEEKEND UPDATE
  • APPLE WEEKEND UPDATE
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  • ES has held on to the support levels mentioned in earlier charts.
  • Second chart shows price moving above 50 Hour SMA. For bullish moves to extend price must sustain above 50 and 100 Hour SMA.
  • Last chart shows crucial levels to confirm breakout or breakdown.
  • US OIL CHART ANALYSIS
  • HEWLETT PACKARD SUPPORT LEVELS
  • S&P 500 WEEKEND UPDATE
  • APPLE WEEKEND UPDATE
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  • Nifty one hour chart shows price in a consolidation. Recent consolidations during this up move has resulted in upper breakouts.
  • Price testing Hourly ichimoku cloud. Price falling below the cloud may turn the trend in this time frame.
  • Weakness below 5843 and 50 Hour SMA.
  • SBI Continue to show weakness at golden ratio. Further fall only if price closes below 50% Fibonacci level.
  • Support levels are 100 Day SMA and 5 Week High EMA.
  • Weekly close below 5 Week High EMA will resume the fall.
  • TATA MOTORS CAHRT ANALYSIS
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  • Tata Motors is sustaining above the channel in daily chart.
  • Price has closed above 100 day sma. Sustaining above this level will lead higher targets.
  • Immediate resistance at 78.6% Fib level. For bigger up moves price must trade above 78.6% Fib level.
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  • ES one hour chart shows price nearing the rising support line and horizontal support level.
  • Price is also near 100 Hour SMA.
  • Ichimoku cloud of one hour time frame is getting tested. Cloud break on closing basis will be a concern for short term bulls.
  • US OIL CHART ANALYSIS
  • HEWLETT PACKARD SUPPORT LEVELS
  • S&P 500 WEEKEND UPDATE
  • APPLE WEEKEND UPDATE
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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