June 3, 2014

  • ES Getting support at the cloud and 100 period SMA.
  • Negative divergence did gave a small correction but price has started to move up again.
  • MACD is likely to give another lower high and before that price is likely to make newer High's.




 
  • EURUSD 4 Hour chart shows price moving into the cloud which may act as resistance level.
  • Staying above 50 period sma this up will continue. 
  • If the up move sustains Immediate target could be the 23.6% Fib level.
 
  • CNX IT Daily chart nearing a death cross. Price near 50 and 200 Day SMA Which may result in bigger moves.
  • Weekly chart shows price trying to stay above 38.2% Fib level. A weekly close below this level will extend the fall in CNX IT.
  • 2nd chart shows a Weekly range between 8600 - 9000. Bullish structure of weekly chart will be safe if price stays above this range.



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.

Followers

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