April 17, 2015

  • ES 4 Hour shows price falling to the middle of the range.
  • ES Range is unlikely to resolve soon. Range bound move likely to continue.
  • EURUSD Chart analysis
-->



  • EURUSD at crucial resistance levels.
  • Hour chart is trading above the cloud. Weakness only if price falls below the hourly cloud.



  • ES shows some weakness at resistance levels, But for bears price need to stay below 200 Hour SMA as shown in second chart.




  • Price testing 200 Day SMA
  • Bulls pausing at 940 - 945 zone which was the last major swing high. As the last chart shows this swing high must be crossed to start showing Higher High's and Lows.
  • So more bullishness on closing above 200 SMA.
  • NIFTY Chart analysis
-->




  • Price testing 50 day sma. Not a convincing break of 50 SMA yet.
  • Took support at 20 day sma and 38.2% fib level
  • Daily MACD is looking good for bears. But needs price to stay below 8645 levels



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