May 31, 2015

 
  • Monthly candle did gave a possible reversal formation last month but there was no price follow up for bears. Similar pattern shown on left hand side worked well for bears. For now bears need to stay above 123 and 121 levels for bigger falls to happen.
  • Week shows a broad range between 121 and 134 levels.
  • Daily chart on closing basis price contraction in an ascending triangle pattern. Closing outside these lines may give good direction.
  • EURUSD Chart analysis
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May 30, 2015

  • Weekly chart shows negative divergence. The divergence has been happening for sometime without any major correction.
  • Facebook bears need a weekly close below 50 Week SMA for bigger falls to follow.Bulls need to stay above this line to keep the up trend safe.




May 29, 2015

 
  • EURUSD is moving towards possible resistance zone at 1.10 level. 
  • Price is also near 100 Day SMA. More strength for bulls only on closing above 100 SMA.
  • Price for now has taken support at Golden ratio.




  • Crude oil daily trying to protect 50 Day SMA. Unable stay above 200 SMA is negative for crude bulls.
  • Weekly chart shows price moving around 23.6% Fib level. Crude bulls need price to close the week above this level to avoid further weakness.




  • First chart shows the weekly time frame. Price continue to create lower lows and if 311 is not held on closing basis more trouble for Tata steel bulls.
  • Next two chart shows price breaking below crucial levels in daily time frame. No strength for bull till price stays below 333 level.
  • PREVIOUS UPDATE ON TATA STEEL
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May 28, 2015


 
  • Silver one hour chart shows immediate support and resistance levels.
  • Daily chart shows bulls trying to stay above 200 Day SMA
  • Bigger time frames are looking weak. Weekly cloud is acting as stiff resistance.



  • 20 Day SMA and 8325 levels are crucial for bulls to hold above on closing basis.
  • Bears are looking at RSI to become overbought and a falling resistance line.


May 27, 2015


  • ES 4 Hour chart shows price falling below crucial support resistance zone. This zone and the 23.6% Fib level shown in chart 2 will act as immediate resistance zone. Support is seen at 50 Day SMA and 50% Retrace zone.





  • Nifty is showing weakness from 50 Day SMA. Immediate support levels are shown for this correction. Close below 20 SMA may extend the fall.


May 26, 2015


  • Price is showing weakness near golden ratio and 50 day SMA.
  • MACD is also turning weak. so bears need a close below 200 day SMA for bigger falls to follow.
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May 25, 2015

 
  • For now the pair is not trending, Instead its in a broad range between 1.04 levels and 1.14 levels. Pair will favour bears on closing below 50 day SMA.



  • 200 SMA Crucial for bulls in One hour time frame.
  • 4 Hour chart shows price staying above the neck line. Bulls can reach newer high's if price continues to stay above this zone.



  • Nifty bounce continues but price is approaching crucial resistance levels. 2nd chart shows the falling resistance line and 100 Day SMA. Bulls simply needs to sustain above these two level son closing basis to weaken the other bearish possibilities shown in first and last charts.




May 22, 2015

  • Crude oil 4 hour chart shows price holding above crucial support zone. Weakness only if price sustains below this zone.
  • More strength for bulls if price sustains above 200 Day SMA.



 
 
  • Tata steel bearish price action. Staying below 50 day SMA will continue to favour bears. Next level to watch is 333. Minor strength if price is able to get back and close above 50 day SMA. Bigger falls possible if 333 is not held.
  • Weekly candle looks bearish. Bulls need to change the structure of the candle but they have only one session. Price if closes at the current levels or lower will lead to more falls in the coming weeks. 
  • Chance for bulls to come back is above 351, More strength for bears below 333.

May 21, 2015


  • ES one hour and 4 Hour chart shows bulls hanging on to crucial support resistance zone. Bears need to close below this zone for bigger correction to follow.



  • Price is moving up steadily but its approaching crucial resistance zone 8505 - 8550. Immediate support zone is at 8332 level.
  • RSI is has not reached overbought zone and price too yet to shown bearish price action.
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May 20, 2015

  • Silver weekly chart shows weakness at the cloud.
  • More strength for silver bulls if price falls below 200 Day SMA.
  • 4 Hour chart shows retrace levels as immediate support zones.




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