February 15, 2012

EURUSD Weekly chart

  • EURUSD Weekly chart.
  • Price falling down from 20 Week SMA.
  • For Bulls of EURUSD price has to sustain above 20 Week sma for targeting towards the dotted resistance line.
  • Falling below 1.3028 will favor a bearish trade in EURUSD.

ES resistance line

CHART-II
  • Price falling towards the dotted support line. If this line is taken out price will hit the 100 period SMA. 
CHART-I
  • ES Four hour chart with resistance line. A short trade is possible from the black resistance line.
  • Falling below the red line too is weak and a correction towards 1342 levels is possible.

RELIANCE chart analysis

CHART-II
  • Triangle discussed in the below chart has given a good short trade. Further weakness on hour closing below 838. This level may also act as support.
  • NIFTY RANGE UPDATED
CHART-I
  • Reliance fibonacci levels shows resistance near 78.6% Fib level.
  • But price has not given a sell yet. If price is able to close below 10 Day EMA along with a MACD sell signal we may see a correction in reliance.
  • Bulls of reliance need a daily close above 78.6% fib level for a possible move above 900+.
  • S&P 500 EOD UPDATE

S&P 500 Analysis after closing bell

  • Price took support at the supporting trend line of the rising wedge.
  • The range shown in daily chart looks like it will be resolved on the up side and it will target the resistance line of the rising wedge which should target around 1360 levels.
  • For bears Range and rising wedge breakdown may result in good correction.

February 14, 2012

Priceline Target for the breakout

  • Priceline.com with it's weekly range breakout. Range is about 123 points so the target is above 670 levels.
  • caution this stock already had a false breakdown from the same range. But week candle came back to close inside the range. So bulls of PCLN should close near high of the week for sustaining the momentum. Pullbacks should also be limited to 550 levels. 
  • WEEKLY MACD BUY SIGNAL OF PRICELINE

CRUDE OIL Resistance levels

  • Crude oil sustaining above 101.30 levels should continue this up move towards 103 levels.
  • for bears of crude oil price need to fall below 50 Day SMA again.

GOLD Support and Resistance levels

  • Gold is below 20 day SMA. Short trade possible on the break of 1704.
  • Long trade possible above resistance level 1733.