July 22, 2010

Dow Jones futures chart

  • Dow Jones futures 4 hour chart with support and resistance line.
  • The index has given a break out. Now the closing should be near the high point of the day for this bullishness to sustain. 

The bearish gold

  • The hour chart of gold suggest that the commodity is in a down trend.
  • It is holding on to an important trend line break of which will lead to more fall in gold prices.
  • Also see how the geometrical patterns show up in a stocks chart time and again.

Nifty weekly chart with stochastic

  • Nifty weekly chart with stochastic indicator.
  • The indicator is in overbought zone and is yet to show any weakness.
  • Index is also respecting the weekly trend line.
  • A Break of the trend line coupled with a sell signal in stochastic should be a good place to go short.