September 21, 2011

COPPER Falling to the support line

  • Copper daily chart in a big falling wedge pattern
  • Current fall may find support near 3.61 levels.
  • Price may give an up move from this level

MICROSOFT Triangle pattern

  • MSFT Week shows price near the resistance line of the triangle pattern.
  • MACD bars in daily chart is showing negative divergence.
  • So price will start to come down towards the support line of the triangle in the coming days.
  • GOLD SUPPORT AND RESISTANCE LEVELS
  • S&P 500 ANALYSIS AFTER CLOSING BELL

SBI Resistance line

  • SBI hits and pauses at the resistance line.
  • Price momentum looks good for bulls.
  • Price trading above 20 Day moving average.
  • We shall see reversal candles here for going short.
  • Break and close above this line will add strength for the current up move.

NIFTY Resistance levels

  • Nifty if breaks out above the resistance line shown in first chart will meet 50 Day moving average. 50% Fibonacci levels and the gap which starts @ 5230 level. And if it manages to continue through these resistance levels it will be a strong move.
  • Breaking the support line of this pattern will act as a continuation of the larger trend.
  • GOLD SUPPORT AND RESISTANCE LEVELS
  • S&P 500 ANALYSIS AFTER CLOSING BELL

S&P 500 Analysis after closing bell

  • Daily chart shows a bearish candlestick formation. Long tail shows selling pressure at higher levels.
  • Correction started from near 50 Day Moving Average. For bears follow up selling needed to break SPX below 20 Day Moving average.
  • Hour chart too looks negative, Price falling below 50 Hour moving average will extend this correction.
  • GOLD SUPPORT AND RESISTANCE LEVELS
  • SINA WEEKLY TRIANGLE PATTERN

September 20, 2011

SINA Weekly Triangle update

CHART-II - UPDATED
CHART-I
  • SINA CHART-I Was posted on 14th of this month. has given good gains for bears of this stock.
  • Price is moving towards the support line of the triangle pattern.
  • This fall should take SINA below 90 levels in the coming weeks.

SLV in a falling wedge

  • Hour of SLV in a falling wedge pattern.
  • A bullish reversal pattern for it to work price should break and sustain above 39.84 levels.
  • Falling below the support line will favor bears of SLV.