May 3, 2012

GOLD Support and resistance levels

  • Daily chart is showing possible support level at golden ratio
  • Weekly chart continue to get resisted at 50 Week SMA.
  • Crucial low at 1612 which may act as support.



SILVER Support and Resistance levels

  • Silver daily chart shows the falling support lines if the current correction is to stop at the red line we may see a bounce from 30.00 - 30.10 levels. Price falling below 30 means targeting the black line.
  • Four hour chart is shown with resistance lines. 100 Period SMA will act as resistance and the space between 100 and 200 period SMA also will continue to act as resistance.
  • Price is near the golden ratio of daily time frame which may give support.
  • S&P 500 ANALYSIS AFTER CLOSING BELL


NIFTY Cloud and weekly stochastic



  • Nifty daily and weekly charts yet to close below the Ichimoku cloud.
  • Weekly stochastic lines are moving down  faster than the price. If crucial levels does not break this can be bullish. 
  • closing below 20 Week SMA will negate the above bullish view.
  • S&P 500 EOD ANALYSIS

S&P 500 Analysis after closing bell



  • SPX Daily chart shows price staying above 20 and 50 day SMA. Consolidation above crucial moving averages may help bulls to extend gains. But daily chart also shows a bearish cross between 20 and 50 SMA which will keep the bears interested. 
  • Cloud and 100 period SMA of Four hour also looks like strong support levels. So the violation of the range 1392 - 1415 may give a clear direction.


May 2, 2012

APPLE Channel and IHNS pattern


  • Apple 15 Minutes continue to move down in a channel.
  • Hour chart shows a possible Inverted head and shoulders pattern. Price need to stay above 50 Hour SMA For this particular pattern to work in favor of bulls.
  • Daily chart continue to test 50 day SMA. Close below 50 SMA May lead to the recent lows again.



S&P 500 Futures Support levels

  • ES One hour chart has broken crucial support levels.
  • Four hour chart is near important support levels (200 period SMA and 38.2% Fibonacci levels) If these two levels held we may see es turning  up again.
  • EURUSD AT RESISTANCE LEVELS


GOOGLE Chart Analysis


  • First chart is show with MACD.  Crucial support in  this chart is the 200 Day SMA.  If  200 SMA is held MACD should  give a buy signal.
  • If the 200 SMA is held we may see a triangle pattern in google. Price has to sustain above 50 Day SMA for a possible up move towards the resistance line of the triangle.
  • 20 and 50 Day SMA is showing  a possible bearish  setup. If price stays below 20 SMA we might get a trending move in favor of bears  provided 200 SMA gets broken.
  • EURUSD AT RESISTANCE LEVELS