April 24, 2014

  • Facebook 4 hour charts with multiple resistance levels.
  • Strength only on closing above 100 period SMA.
  • Crude oil 4 hour chart needs to stay above 100 period SMA for a bigger up move to happen.
  • One hour chart shows possible resistance levels.

  • Crucial support for one hour chart at 50 Hour SMA and the Hourly cloud.
  • Previous resistance zone shown in 4 hour time frame too is acting as support so far.
  • For bears need an hourly cloud break on closing basis for a possible correction to follow.

  • Daily chart of CNX IT is consolidating after a down move, This is most likely a bearish continuation formation. Crucial level to watch is the 9050 level shown in first chart. If 9050 goes on weekly closing basis it will further weaken the long term trend.
  • For bulls of CNX IT price must get back above 50 and 100 SMA to avoid a test of 200 Day SMA.


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.


Blog Archive

Powered by Blogger.

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