March 31, 2014

  • Facebook pausing at confluence of support level. Closing below this zone on closing basis may lead to bigger correction.
  • ES one hour and 4 hour charts with possible resistance levels



March 30, 2014

 


  • QQQ Weekly chart shows weakness after negative divergence.
  • More weakness if price starts to trade below 100 Day SMA.



March 29, 2014


  • Blackberry Daily chart shows range breakdown with volume spike.
  • Price testing 100 Day SMA and 50% Fib level. Closing below these levels may lead to the recent swing lows again.

March 28, 2014


  • Price testing crucial support levels of daily time frame.
  • Bigger weakness for EURUSD if price starts to trade below 100 Day SMA and the cloud.
  • Bullish candle here may give a bounce for EURUSD Bulls.




  • Daily chart is testing its 50 Day SMA after a Dark cloud cover pattern in daily time frame
  • Weakness in daily chart is yet to affect the weekly time frame.

March 27, 2014

 
  • Amazon testing the 200 Day SMA and Crucial support zone. Daily and Weekly close below these levels will favor bears for bigger falls.
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  • ES Daily chart shows price trying to stay above Confluence of support levels. 50 Day SMA and previous resistance is trying to stop a bigger fall from happening.

  • Apple daily chart shows a bearish engulfing pattern near the recent swing high of 551. Weakness though can only be confirmed if price falls back below the daily cloud and the falling resistance line.

March 26, 2014


  • Gold daily chart shows price pausing at 38.2% Fib level.
  • For gold bulls price must close back above 50 day SMA.
  • One hour chart shows price trading below the cloud. Price sustaining below the hourly cloud will continue to favor Bears.




  • Crude oil daily chart shows price testing 200 Day SMA.
  • Price unable to close back above 200 SMA may give bigger falls for crude oil.

March 25, 2014



  • SPY Weekly chart shows negative divergence
  • Daily chart shows previous resistance zone near 184 levels trying to act as support
  • Crucial support for SPY is the 50 Day SMA. Sustaining below this line a bigger fall is possible



March 24, 2014


  • Facebook daily chart shows price trading below crucial support zone.
  • Price is testing 50 Day SMA and nearing daily cloud. Price if sustains below 50 day SMA may target the GAP shown in first chart.

  • Gold weekly chart has a bearish engulfing pattern.
  • Engulfing pattern will gain strength if price starts to close below 50 Day SMA and 38.2% Fib level.




  • Nifty trading in a small range.
  • Price if shows weakness may retest the previous range's resistance level. Bigger weakness only if price starts to trade back into the previous range.
  • Last chart shows a possible weekly resistance line. Bulls must stay above this line to avoid a correction.

March 23, 2014

 
  • INTEL Daily chart shows a Bearish dark cloud cover candlestick pattern. Weekly chart shown with price getting resisted at previous resistance level at 25.68. Weakness can be confirmed on price closing below 50 day SMA.
  • FACEBOOK Support and Resistance levels
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March 22, 2014



  • Price near 5 Week High EMA Which has acted as resistance so far. Daily chart too shows possible resistance at 50 Day SMA.
  • Crucial support for the stock is seen at the 38.2% Fib level shown in weekly time frame.


Disclaimer

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.

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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