DOW JONES TECHNICAL ANALYSIS FOR LAST WEEK

DOW JONES DAILY AND HOURLY VIEW

• INVERTED HEAD AND SHOULDERS PATTERN IN THE HOURLY CHART IS YET TO SHOWS IT'S POTENTIAL.
• THE DOWN SLOPING CHANNEL IS VIOLATED AND NOW DOW HAS AN ASCENDING TRIANGLE LIKE FORMATION TO BREAK OUT.

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APPLE DIVERGENCE AND RESISTANCE IN HOURLY CHART

APPLE RESISTANCE AND DIVERGENCE

• APPLES RESISTANCE LINE SEEMS TO BE STRONG IN THE HOURLY CHART.
• COMBINED WITH THE NEGATIVE DIVERGENCE THE STOCK MAY COME DOWN FROM THE CURRENT LEVELS IN THE COMING DAYS.
• ONLY A STRONG MOVE ON THE UPSIDE AND A CLOSE ABOVE THE TREND LINE MENTIONED ON THE ABOVE CHART CAN BRING ABOUT A STRONG UPTREND.

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ORACLE CORP HOURLY CHANNEL AND WEEKLY VIEW

ORACLE CORPORATION WEEKLY AND DAILY

• WEEKLY CHART OF ORACLE IS SHOWING A KIND OF RISING WEDGE. BUT THE CURRENT CORRECTION HAS MET WITH SUPPORT ON THE BOTTOM TREND LINE AROUND 22.
• IF THE TREND LINE HOLDS A RALLY IS POSSIBLE TOWARDS 27.
• THE 30 MINUTES CHART SHOWS A CHANNEL FORMATION WITH NEGATIVE DIVERGENCE. THE STOCK MAY FALL TO 22.00 AGAIN.

RENUKA SUGARS LTD BREAK OUT

RENUKA SUGAR LTD DAILY CHART

• RENUKA SUGARS LTD HAS GIVEN A BREAK OUT ABOVE 20 DAY MOVING AVERAGE
• KEEP A STOP LOSS OF 52 FOR GOING LONG.
• HAS MENTIONED LAST WEEK ABOUT RENUKA SUGARS POSITIVE DIVERGENCE LAST WEEK CLICK HERE TO VIEW THE POST.

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NIFTY TECHNICAL ANALYSIS FOR LAST WEEK

NIFTY DAILY CHART

• NIFTY HAS MADE A REVERSAL FROM CHANNEL BOTTOM. MACD HAS NOT GIVEN A BUY YET. 
• AS YOU CAN SEE THE LAST TWO TIMES WHEN NIFTY CAME CLOSE TO THE CHANNEL BOTTOM IT COMBINED WITH MACD CROSSOVER TO GIVE A GOOD REVERSAL
• I AM EXPECTING IT TO HAPPEN AGAIN. BUT HAS RESISTANCE AROUND 5080. 
• IT MAY GO DOWN A BIT FROM CURRENT LEVELS.
• BUT THE CORRECTION FROM HERE MAY NOT BE TOO LARGE AND AN UP MOVE FOLLOWED BY THE BREAKING OF 5080 WILL TAKE NIFTY TO NEW HIGH'S.

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USD/JPY HOURLY TRIANGLE BREAKOUT

USD/JPY

• THERE IS A TRIANGLE BREAK OUT AND IT LOOKS LIKE IT WILL TAKE OUT 94 AGAIN.
• A 6 POINT MOVE FROM HERE IS WHAT I AM EXPECTING

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