July 17, 2013

 
  • Gold one hour chart shows price trading in a range.
  • 4 Hour chart shows the range within a larger channel
  • One hour chart is near 200 Hour SMA, Price closing below this level may take price towards channel support line. A bigger breakdown on price breaking below the channel. Taking support here means price moving towards channel top again.
  • TESLA MOTORS TREND UPDATE
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  • Apple daily near 50 Day SMA and Testing golden ratio.
  • Weekly chart is testing 20 Week SMA.
  • Apple bulls need a close above 20 Week SMA to extend the current up move.
  • TESLA MOTORS TREND UPDATE
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  • Daily chart of Tesla Motors shows a rising support line and 50 Day SMA.
  • Weekly chart shows price attempting to form a bearish engulfing pattern.
  • Weekly chart also shows a previous range between 94 - 104 which may stop a bigger fall from happening 
  • S&P 500 ANALYSIS AFTER CLOSING BELL
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  • If the correction in daily chart continues price may target 16.09 which was the previous resistance level and 20 Day SMA.
  • Closing the week at the current levels or lower will form a Bearish Engulfing pattern in weekly chart which is a strong reversal signal.
  • S&P 500 ANALYSIS AFTER CLOSING BELL
  • Crude oil hourly chart testing crucial support levels. 100 Hour SMA and rising support line.
  • For a bigger fall price must break below the 23.6% Fib level shown in last chart.
  • S&P 500 ANALYSIS AFTER CLOSING BELL
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  • Crucial support for nifty today at 50 Day SMA and 23.6% Fib level.
  • The area between Golden ratio and 78.6% Fib level will act as resistance for bulls. Many reversals have happened from this area in the past.
  • Weakness on day closing below 50 Day SMA. Strength above 5980.



 
  • Bearish candle after 8 days of bullish candles. 
  • Line chart shows price turning down But the crucial support band of 1670 - 1672 is yet to break. Weakness only on price breaking below this level as shown in 15 Minutes chart.
  • If price takes support at this level an up move towards the resistance line shown in second chart may happen.
  • COCA COLA CHART ANALYSIS
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  • COCA COLA Daily chart shows price contraction in a triangle like pattern which should lead to a bigger breakout or breakdown in the coming days.
  • Price is getting support near 200 Day SMA and is getting resisted near 50 Day SMA. So any of these levels must go for  a bigger move to happen.

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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