August 23, 2013

  • Crude oil 4 hour chart shows a triangle shaped consolidation pattern. Price nearing resistance line.
  • Daily chart shows price getting support near 50 Day SMA. Bears unable to sustain price below 50 Day SMA. Crucial resistance zone between 108 and 110.
  • SILVER Resistance levels

  • Silver hour chart is violating resistance levels
  • Next resistance level is at 23.57.
  • price has to stay above 23.57 for targeting 38.2% Fib level shown in weekly chart.

  • Microsoft Taking support at weekly up trend line
  • 2nd chart shows weekly resistance levels.
  • If price sustains above 33.41 it is likely to target the resistance line shown in last chart

  • HPQ managed to close a gap in daily chart and left another Gap in doing so.
  • Price has fallen below 20 week sma. Closing the week below this level may extend the fall towards lower bb in the coming weeks.
  • Daily chart shows price below 50 and 100 Day SMA. More weakness on price falling below 21.81 levels. 
  • EURUSD Channel and Resistance ZONE

  • EURUSD 4 Hour chart shows price moving up in a channel.
  • Daily chart shows price near crucial resistance zone of 1.34 - 1.3450.
  • Weekly chart too shows price near 200 Week SMA. Recent attempts to cross this level has resulted in big corrections.
  • SPX Analysis after closing bell

  • Weekly chart shows price trying to stay above 78.6% Fib level
  • Daily chart shows positive divergence with MACD Histogram. But Price is yet to confirm a reversal.
  • Last chart shows the struggle of bulls with 5 Day High EMA. Price must close above this level for a bigger bounce to happen. Another dip towards 9000 levels may give a buying opportunity risk reward ratio looks good here.

  • Daily chart trying to stay above 100 Day SMA.
  • Week is trying to turn up from 20 Week SMA.
  • Weekly up trend line trying to support the fall. Weekly closing tomorrow will be crucial. Closing above the weekly support levels may extend this bounce.


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