Stock Market Chart Analysis

November 18, 2011

Price having broken 61.8% may come down towards 78.6% or the GAP shown in the same chart.
Stochastic is oversold, In a trending market trades taken based on oversold indicators mostly hits the stop loss. So its better to wait for that daily green candle which may hint of a pause in falling.
Last 3 months price has tested sub 4800 levels when ever it falls below 5 month low ema. So price may keep falling once it sustains below 5 month low ema.
S&P 500 EOD ANALYSIS
SILVER CHART ANALYSIS

Line chart shows SPX closing at a crucial level.
For bulls 50 Day SMA has to save them from a bigger correction. Closing below 50 SMA may result in bigger falls.
If 50 SMA holds Price may bounce towards 1250 levels
GOLD CHART UPDATED
SILVER CHART UPDATED

The horizontal support line is the last hope for bulls. Price staying below this will further damage the technical's in favor of bears.
200 Period SMA toos is important for this time frame. Price if manage to stay above this line may result in a bounce.
GOLD CHART ANALYSIS
SILVER CHART ANALYSIS

ES Daily is near previous resistance level which has given good support till now.
2nd chart shows the diamond and triangle patterns. Breakdown from the diamond pattern gave a nice down move. But the triangle is yet to show its effect. Failing to fall below 200 Period SMA might result in a bullish move.
For bears price has to break below 200 Period SMA.
GOLD CHART ANALYSIS

Price has taken support at Lower bollinger band and the Golden ratio. But it has to show follow up buying for confirming strength.
Breaking below yesterdays low will favor bears to extend gains.
USDINR MOVING UP WITH NEGATIVE DIVERGENCE

ES has given a breakdown from the diamond pattern. But the triangle is stopping bears from extending gains.
If the triangle support line holds, Bulls can take it back up gain towards the resistance line of the triangle.