February 27, 2015

CRUDE Oil Update

  • Crude oil 4 Hour chart shows price moving around 200 period SMA. This support zone is the Mid point of a range shown in weekly chart.
  • So a bigger move in Crude oil will be possible only when price moves out of the weekly range.

APPLE Sell Signal


  • No Sell signal Yet in MACD Indicator But it looks like we may get one soon. Weakness can only be confirmed if price breaks below 126 level. On seeing yesterday's price action it looks like price will remain in this range with positive bias for today.
  • Weekly candle looks interesting for bears. If it closes like this or closer to the current price then there is a possible Doji reversal candle in the making.

SILVER Chart Update

  • Silver 4 hour chart shows price unable to move above the resistance levels discussed yesterday.
  • Price has fallen back into the range as seen in second chart. 
  • For silver bulls price must sustain above the cloud for a bigger up move to follow.

Bank Nifty support lines

  • Bank nifty at crucial levels. It may move up after testing these levels or bigger weakness can be seen if the levels are not held.
  • Bears need a weekly close below 20 Week SMA for bigger falls to happen.
  • Bulls may try to defend the rising support line.

CRUDE Oil testing support levels

  • Crude oil is falling back to crucial support levels in 4 Hour time frame.
  • 200 Period SMA for this time frame has held for sometime now. If price manage to close below this level bigger falls are possible.