- EURUSD Monthly chart shows a slanting support line. Second chart shows price at 50% Fib level. Some more downside likely before a bigger bounce could happen.
- Daily chart if starts to trade above the cloud can confirm a bigger bullish trade. Staying below the cloud the correction is likely to continue.
December 31, 2014
- Apple is likely to remain in a Fibonacci range. Mostly stocks tend to range between 61.8% and 38.2% before a big move happens.
- Weekly chart shows price still in an up trend. Good buying opportunity may come if price test the up trend line again.
- Immediate resistance at 114. Support levels are 50 Day SMA and 111 level.
- Reliance weekly chart shows possible rising trend line.
- Second chart shows resistance zone between 910 - 930 level. Fib level also shows broken golden ratio around this zone. So bullish only if price manage to close above this zone.
- Reliance will remain weak on staying below this zone. Breaking below the trend line will strengthen bears of reliance industries.
December 30, 2014
- NIFTY Daily stuck in an ascending wedge like pattern as shown in first chart. Till price stays within the boundaries the steady up move is likely to continue
- Ichimoku cloud shows price testing it twice in the recent past. Bears need price to sustain below the cloud for bigger breakdowns to happen.
- MACD Shows a possible buy signal coming But this can be a trap for bulls. Its better to look at the price levels to confirm strength and weakness.
- Last chart shows immediate resistance levels in 20 and 50 Day SMA.