May 28, 2013

  • Apple one hour chart shows up trend lines and Ichimoku cloud as Immediate support levels.
  • 100 Hour SMA is acting as immediate resistance levels.
  • APPLE IN A DIAMOND PATTERN
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  • Gold four hour chart shows a bullish ascending triangle pattern.
  • Price is getting resisted at 38.2% Fib level as shown in the second chart.
  • Last chart shows crucial support levels below which the bullish view will be negated. Weakness below 1375 and 1354.
  • APPLE IN A DIAMOND PATTERN
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  • ES Moves back above crucial moving averages and cloud.
  • There is hope for bears in the golden ratio. Price sustaining above this level weaken ES Bears further.
  • APPLE IN A DIAMOND PATTERN
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  • Tata motors futures hour charts with resistance at 38.2% Fib level and 50 Hour SMA.
  • Support at 1 Hour cloud. Hour closing below the cloud will be negative.
  • For the up move to continue hour must close above 50 Hour SMA and 38.2% Fib level.



 

  • NIFTY Daily chart shows price taking support at 38.2% Fib level and closing the day back above 23.6% Fib level.
  • Hourly chart shows possibility of a head and shoulders pattern which will work only if this up move is limited to 6115 - 6120 levels, Anything above that may lead to 6229 levels for a range bound move as shown in last chart.
 
  • IWM Daily chart shows crucial support at 96.51 and 20 Day SMA.
  • Weekly chart has given a bearish weekly candle but the trend will turn weak only if price starts to trade below 94.96 and 23.6% Fibonacci level.
  • APPLE IN A DIAMOND PATTERN
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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