May 19, 2014

  • Crude oil 4 hour chart shows price testing previous support zone.
  • Price has managed cross the Golden ratio next fib resistance at 78.6%
  • Daily chart shows price nearing crucial swing Highs.




 
  • ES 4 hour chart shows price testing resistance zone.
  • One hour chart is trying to stay above the cloud.
  • One hour with fib shows price approaching the golden ratio possible reversal zone.
  • Apple daily chart shows price in a range between 580 and 604
  • Crucial support levels for the stock are 20 Day SMA and 23.6% Fib level.
  • Weekly chart shows support at golden ratio which must be held to avoid bigger falls.
  • closing above 604 may lead to 637 levels.




  • 15 Minutes chart is shown with fib levels. Price is taking support at 78.6% Fib level
  • Hour chart is testing 20 Hour SMA.
  • Last chart shows the crucial GAP between 7020 - 7060. Bigger weakness only if price falls below this level.





  • CNX IT Got resisted at 50 Day SMA during the news day and moved lower towards the crucial support zone of 200 Day SMA.
  • For bigger down moves price must close below 200 Day SMA.
  • Trend will remain weak below the daily cloud. For IT Bulls price must sustain above the daily cloud for bigger up moves to happen



 
  • JC Penney trying to stay above the falling resistance line.
  • Weekly chart shows price in a consolidation range. If price stays inside the range longer the breakout will be bigger.
  • Weekly cloud may act as immediate resistance. For longer term up moves price must trade above the weekly cloud.
  • IWM TRIANGLE PATTERN




 
  • Alcoa shows strong up trend for the stock as price continues to trend up above the 50 Day SMA and the daily cloud.
  • Crucial level for the stock to stay above is 13. Weakness only on a daily close below 13 levels.
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"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