February 28, 2014

  • Tesla 30 Minutes chart shows price in a range. Price is testing the range support zone at 244.
  • Daily close below 244 will strengthen Tesla bears for targeting the GAP.
  • 5 Minutes  chart trading below the falling resistance line. Possible intraday bounce if price starts to trade above this line.
  • APPLE Chart analysis

  • Crude oil four hour chart shows price near the rising trend line and testing the 4 hour cloud.
  • Price also seen in a range. These rectangles in four hour time frame has given bullish breakouts so far.

  • Apple takes support at Golden ratio.
  • Price moves above 20 Day SMA. Immediate resistance levels at 38.2% Fib level and 100 Day SMA.
  • DOW Jones Analysis after closing bell

  • Bank Nifty near 50 day SMA.
  • Price also near previous support level (10780) and 38.2% Fib level.
  • Weekly candle is looking bullish, Bigger up move possible if price starts to trade above 20 Week SMA.

  • Dow Jones is trading near a crucial resistance line and 78.6% Fib level. For bears its crucial that price shows weakness here. Bears further need a close below 50 day SMA to confirm bearishness.
  • Price if continues to stay above 50 Day SMA will clear the above mentioned resistance zone and may take price towards newer High's.

February 27, 2014

  • Apple Hour chart shows the fall pausing at Golden ratio.
  • Price must trade above the 30 Minutes cloud for a bigger up move to happen.
  • Hour chart shows price trading below 200 Hour SMA. 

  • ES one hour has fallen below 200 Hour SMA.
  • Four hour chart shows possible support at the cloud which may save bulls from a bigger fall.

  • Blackberry shows a bearish engulfing pattern near recent swing High. If price starts to trade below 10.21 this can also act as a Double top pattern. Setup may not give bigger gains for bears as price staying above 200 Day SMA. 
  • Bearish view will be invalid if price close above 10.85. Bullish inverted head and shoulders can also play out if price stays above 200 Day SMA. 

  • The broadening pattern of QQQ discussed in an earlier post continue to be valid..
  • The Daily MACD is showing bearish alignment But needs price to close below the range for confirming weakness.

February 26, 2014

  • Gold bulls trying to stay above 200 Hour SMA and golden ratio of One hour time frame.
  • Daily chart shows bearish price action at golden ratio. Bearish Daily candle here may give a bigger fall and thus breaking below the support levels shown in Hour chart.
  • SILVER reacting from weekly resistance levels

  • Silver 4 hour chart shows bearish price action from a consolidation pattern.
  • Weekly chart shows price reacting from the falling resistance line. Bearish weekly candle here may result in a bigger fall.

  • Daily chart of Bank of america shows price doing a consolidation in a Triangle pattern.
  • Weekly chart shows the larger trend remains up.
  • Price moving back above daily cloud may result in an upper breakout. Weakness on price closing below the cloud
  • BLACKBERRY Analysis after closing bell

  • Nifty daily chart shows price testing the GAP and Daily ichimoku cloud. Price need to stay above these levels for a bigger up move to happen
  • Price is testing the golden ratio now. Nifty managed to close above 50 Day SMA. Weakness here only if price closes below 50 day SMA.

  • Blackberry continues its bullish breakout from a bearish Descending triangle pattern. Price has hit a crucial resistance level at 10.85. Price although is moving away from 200 Day SMA has to take out the recent swing high of 10.85 for extending this up move.
  • Last chart also shows a possible bullish inverted heads and shoulders taking shape.

  • Crude oil daily chart testing previous resistance zone which may act as support. 4 Hour chart also shows price at the cloud and rising support level. 

February 25, 2014

  • Apple daily chart shows price trying to take support at 20 day SMA and 50% Fib level. Four hour chart too shows a PIN BAR like reversal candle which may help apple bulls with a bounce.
  • 100 Day SMA at 530 is a resistance level. Bullish on trading above 530 levels. Bearish Below 522

  • Falling wedge of axis bank which was discussed in a recent post continues to perform well for bulls. price has closed above the crucial 50 and 200 Day SMA.
  • Price for now is near the Golden ratio. No weakness here means price may extend towards the target level for the pattern which is at 1326 level.
  • S&P 500 Futures Testing the breakout zone


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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