November 27, 2014

  • Golden ratio for Crude oil in monthly chart is seen  near 65 levels.



November 25, 2014

 
  • Crude oil daily chart shows price testing 20 Day SMA Which may continue to act as resistance level.
  • 4 Hour chart shows 80 levels as previous support  which was broken and may act as crucial resistance if price moves up again. Bigger up move possible only if price is able to get back above this zone.
  • Weekly chart continues to test crucial support zone. Weekly candles yet to show signs of reversal.


November 24, 2014

 
  • 4 Hour charts shows cloud and the 1180 levels as major support
  • Golden ratio shown in this time frame is a crucial resistance zone. More momentum for gold bulls only if price is able to trade above this level.
  • Falling back below the cloud can result in new lows for gold


November 20, 2014


  • 4 Hour chart continues to favor bulls as it stays above the cloud and 50 period SMA.
  • 1 Hour chart gave a Golden ratio trade today. Range breakout fell back to the golden ratio and a long trade was possible with good risk reward ratio.



November 18, 2014

  • GOLD Daily nearing 50 Day sma.
  • For Bulls of Gold Weekly Doji at the bottom is looking god for now.
  • For this up move to sustain its crucial for Price to stay above the 1180 zone which is shown in the last chart.





  • NIFTY Yet to hit the rising resistance line
  • MACD Has negative divergence which was discussed in earlier posts But MACD Lines yet to give sell signal.
  • Last chart shows a rising support line staying above this bulls will continue to remain strong. Mild weakness on breaking and closing below this line.
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November 17, 2014

 
  • If the hourly range breaks on the up side then the Negative divergence will be of no use for Bears.
  • Bulls need to stay above 50 Day SMA To avoid a bigger correction.


  • Reliance industries trying to stay above 200 Day SMA and a crucial support zone. Bullish candle here may result in resuming the up move.
  • Bears need a close below 200 SMA for a possible down move.



November 14, 2014

 
  • ES 4 Hour with MACD Shows negative divergence. Price yet to confirm weakness for this Divergence.
  • Bears need price to close below 50 period SMA.
  • For now price is moving in a range.



  • TATA Steel trying to stay above 20 day sma.
  • Crucial resistance at 50 day sma.
  • Weak on closing below 460 and 20 SMA Which may test the support resistance zone shown in the weekly chart.



November 13, 2014


  • CRUDE Oil continues to look weak
  • 4 Hour support or the recent low is broken.
  • Weekly support zone is getting tested as shown in second chart.


  • ES One hour continues to get support at 100 Hour SMA.
  • Bigger trend continues to be safe as seen in four hour time frame.
  • Daily chart shows price staying above the shaded levels. These levels acted as resistance before and now are crucial support levels. Bigger weakness for ES only if these levels are broken





  • For Tata Steel Bulls the crucial level to stay above is 430 - 435 as shown in first chart. This level acted as previous resistance Now a support zone.
  • Weekly chart shows a range between 23.6% and 38.2%.
  • Daily resistance is at 50 Day SMA.



November 12, 2014

 
 
  • ES Daily shows weakness at the resistance line shown in first chart.
  • Hour chart is testing the cloud. Bears need price to close and stay below the cloud.
  • Last chart also shows price near crucial moving averages in one hour time frame.

  • Nifty is trading in a small range.
  • There is a possible negative divergence developing in daily chart which is yet to confirm.
  • If the range breakout on the upside another highs and a test of the resistance line shown in second chart is possible before the correction can start.




November 11, 2014

 
  • Crude oil 4 hour chart shows price getting resisted at Ichimoku cloud.
  • Weekly chart is approaching crucial support zone near 74 - 77 levels. Bulls must see weekly candles with long shadows here as can be seen on the left side of the second chart for an up move to happen. Closing below this zone should take crude oil below 70.
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  • ES Daily chart shows a possible resistance line of a Megaphone pattern.
  • Hourly charts are yet to show weakness though. Weakness only if price starts to trade below the cloud. 


November 10, 2014

 
  • GOLD One hour chart pausing at 200 Hour SMA.
  • Gold daily chart shows the Bounce pausing at previous broken support level.
  • Weekly chart shows  a Doji which needs confirmation with Bullish price action. Price needs to stay above 1180 level for Gold Bulls.

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