May 14, 2013

 
  • Apple Hour chart shows a bearish cross with 20 and 50 Hour SMA.
  • Hour time frame will extend gains for bears if price falls below 100 Hour SMA. For now 100 Hour SMA is acting as support level.
  • Crucial support is shown in daily time frame. Confluence of support at 50 day SMA and 38.2% fib level.
  • For Chart shows price testing the resistance levels.
  • Four hour chart shows a possible Bullish "W" pattern.
  • One hour chart shows price getting support at the cloud. Only a close below the cloud of this time frame can weaken the up trend of ford.

  • 4 Hour chart of crude oil shows a possible rising wedge being formed.
  • Getting support at the rising support line may give another up move before the big correction may start.



  • ES Hour chart shown with crucial support and resistance levels.
  • 4 Hour chart shows negative divergence developing. For this one to be effective price must break below the support levels shown in one hour chart.
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  • Immediate support levels for nifty is the 23.6% Fib level and 100 Hour SMA shown in chart 2.
  • If this fall extends then the target zone could be the 38.2% Fib level and 100 Day SMA area. Another support is possible at 20 Week SMA at 5870.
  • RELIANCE INDUSTRIES CHART ANALYSIS
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  • Reliance industries getting resisted at 38.2% Fib level shown in daily time frame.
  • Second chart shows a Bearish Death cross in daily chart. with 50 SMA falling below 200 Day SMA. Price has also closed below 50 and 200 Day SMA.
  • Now hope for bulls is the support line shown in 2 hour chart which needs to be held to avoid a bigger fall.

Disclaimer

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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