June 27, 2013

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

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

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

  • 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 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.


All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.


Blog Archive

Powered by Blogger.

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