- Crude oil Daily chart shows price pausing at golden ratio. Weekly chart shows 100 Week sma at the current lows. Breaking these levels on closing basis should extend the fall of crude oil towards the up trend line shown in last chart.
- SILVER False breakout
October 31, 2013
- Price re entering the range after a breakout mostly results in a fall that's shown in one hour chart. Daily chart too failed to stay above 200 SMA on closing basis and has given a bearish candle at this crucial resistance line(200 sma). Price likely to hit 23.6% Fib level as shown in last chart.
- FACEBOOK Support levels
- The up trend line in daily chart and the Golden ratio in one hour chart is trying to act as support level for Facebook.
- If the above mentioned levels fails to hold then price may fall towards 50 Day SMA or Lower Bollinger Band as shown in chart 3.
- SPY Analysis after closing bell
- SPY daily chart shows bearish engulfing pattern and Negative divergence, these two patterns needs confirmation for staying short. In the immediate short term price should break and sustain below 50 Hour SMA for the above bearish patterns to work well.
- Taking support at 50 Hour sma will negate the bearish possibilities.