July 24, 2013

 
  • Weakness is seen in weekly chart. Price has to confirm weakness with a weekly close at the current levels or lower.
  • 4 Hour chart has to close below crucial support levels shown in chart to extend the fall.
  • ES TREND UPDATE
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  • ES Testing crucial support levels.
  • Sustaining above these levels will keep the up trend intact.
  • EBAY BUYING ZONE
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  • Ebay Daily chart moving towards the buying zone. Some more downside left for the stock. Look for a bottom formation between 49 and 50 to go long.
  • Price is below 50 Week SMA which is a concern for bulls. So price has to move back above this level soon to avoid a breakdown.
  • Price is testing weekly cloud. Sustaining above the cloud may lead to an up move. Weakness on trading below 49 levels.
  • EBAY SELLING ZONE
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  • NFLX Managed to close the day above its crucial support level of 248. More weakness only on price closing below this level.
  • Fib levels shows price taking support at 38.2% Fib level. Strength on price moving back above 23.6% Fib level, Weakness on breaking below 38.2% Fib level.
  • Daily chart shows MACD moving towards a bearish cross, For this one to do well price needs to trade below 20 Day SMA.
  • APPLE Support and Resistance levels
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  • Stock is showing negative moves before the results. 
  • Bulls are trying to hold above 200 and 20 day SMA. Negative news will take price below these levels toward the golden ratio or 50 Day SMA shown at 186 area.
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  • Second chart shows price closing at crucial support zone of 418 - 419. Price has reversed from this area as marked in the chart.
  • Price is also seeking support from 20 Day SMA. 
  • Resistance level is between 429 and 431 which are 50 and 100 day SMA respectively. These two has to be crossed on closing basis for a bigger up move to happen 
  • SILVER Chart analysis
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  • Gold trying to stay above 50 Day SMA.
  • Price testing daily cloud. Gold bulls must break above the cloud for a sustained up move to happen.
  • Weekly chart shows price above 23.6% Fib level. For bulls of Gold need a weekly close above 23.6% Fib level to target 1400 or 38.2% Fib level. Price closing back below 23.6% Fib level or 50 Day SMA will be negative.
  • SILVER Chart analysis
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"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