June 27, 2013

GOLD Chart analysis

  • Long term trend of Gold getting tested as price falls into the Monthly cloud.
  • Price is also nearing Golden ratio in Monthly chart for the rise from 680 to 1920. Golden ratio is at 1153  levels.
  • Hour chart continues to trend down below the cloud. For a possible pullback price must trade above the hourly cloud.

EURUSD Trend update

  • EURUSD Daily chart testing Ichimoku cloud and 100 Day SMA.
  • Strength in hourly chart on trading above Hourly cloud.

CRUDE OIL Back to Resistance zone

  • Crude oil daily chart shows price near resistance zone of 97 - 99.
  • Weekly chart shows price near golden ratio.

ES Chart analysis

  • ES nearing multiple resistance levels.
  • Price must sustain above Golden ratio and 100 period SMA for this up move to continue.

S&P 500 Analysis after closing bell

  • SPX is moving back to broken levels like 50 day sma  which may act as resistance.
  • Strength only if price trades above 50 Day SMA and daily cloud.

BANK Of America resistance levels

  • Bank of america nearing its 50 Day SMA.
  • Price also near the broken support level of the descending triangle pattern which may act as resistance.
  • 4 Hour cloud too may act as resistance. Price sustaining below the cloud will give selling opportunities. Strength or the resumption of up move only on price sustaining above the cloud.