May 12, 2013

United States Oil Weekend update

  • USO Weekly Daily charts at crucial resistance levels 34.47 - 34.86. Only a convincing close above these levels could give a bigger up move in USO.
  • Last chart shows price getting support at 50 Day SMA. Weakness in daily time frame only if price starts to close below 50 Day SMA(33.23).

CNX Pharma Weekend update

  • CNX Pharma has given a bearish weekly candle
  • Weekly RSI is showing negative divergence.
  • Price has to further confirm weakness by closing below 5 Week High EMA to extend the fall.

FORD Weekend update

  • First chart shows price nearing its immediate resistance level at 14.3
  • Second chart shows price above 50% Fib level in weekly chart. Sustaining above this crucial fib level may lead to a bigger up move. Price falling below this may give a Bearish Double top pattern.
  • Last chart shows a weekly bullish inverted head and shoulders pattern.