My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
November 30, 2011
ES Resistance lines
- Resistance lines in daily time frame and Four hour time frame.
- Price getting resisted by the the resistance line in four hour time frame is low because of the high momentum of price But the resistance line in daily time frame may be tough to cross. Look for weakness at these resistance line in the form of Doji or bearish candles before going short.
- COPPER BREAKOUT
S&P 500 Futures Analysis
- ES got support from 50 period SMA. Price may move towards 200 period SMA.
- 50% Fib level is acting as resistance moving above it may take ES to the Golden ratio.
- S&P 500 ANALYSIS AFTER CLOSING BELL
RELIANCE Industries Analysis
- Reliance daily charts are looking oversold. But weekly indicators are yet to bottom out and shows possibility of more downside to come.
- We may see an oversold bounce from daily charts which might give good shorting opportunities at higher levels.
- Stock will be under pressure till the weekly stochastic bottom out.
November 29, 2011
APPLE Chart Analysis
- Apple staying above 200 SMA will favor bulls of apple.
- If price stays above the resistance line drawn in 2nd chart MACD indicator will give a buy signal soon which can take stock towards its 50 Day SMA.
- So longs are safe above 200 SMA.
- S&P 500 ANALYSIS AFTER CLOSING BELL
S&P 500 Futures Analysis
- ES Four hour chart has broken above 50 period SMA.
- Next level to watch out are 61.8% Fib level and the 200 Period SMA of four hour time frame.
- S&P 500 ANALYSIS AFTER CLOSING BELL
NIFTY Analysis
- If the recent low is not broken we might see this up move extending towards the resistance line of the channel. That is how price has behaved in this channel so far, so the cycle may get repeated again. But a word of caution for bulls is that price has not hit the channel bottom yet.
- If it is going to be a corrective up move dips will be opportunities to buy as long as price does not retrace too much. Price Closing above 5 Day High EMA and Week Low EMA will help bulls.
- S&P 500 EOD UPDATE
S&P 500 Analysis after closing bell
- Daily chart shows price taking support at the golden ratio.
- 50 SMA and the broken support levels may act as resistance levels. Closing above 50 Day SMA will strengthen bulls.
- Hour chart shows a possible IHNS pattern getting formed with neck line at 1198.50. Breakout can take SPX towards 1215-1220 resistance band.
- CRUDE OIL ANALYSIS
November 28, 2011
CRUDE OIL Analysis
- Crude oil Daily chart is shown with a consolidation pattern after an up move. So this can be a bullish consolidation pattern. But it is also shaping like a Descending Triangle which is bearish. With the bearish weekly candle at the top short term can be negative for crude oil.
- Important support level is between 94 - 95. Breaking and daily candle closing below this level may lead to a bigger correction. Bears need four hour time frame to sustain below the cloud which may result in a fall.
- SPX BOUNCES FROM GOLDEN RATIO
S&P 500 Futures resistance levels
- ES Four hour chart with 50 period SMA and 38.2% Fib level as resistance areas. Crossing this level will strengthen bulls further. Getting resisted here may result in a pull back towards 20 period SMA shown in first chart.
- SPX WEEKEND UPDATE
- APPLE WEEKEND UPDATE
NIFTY Analysis
- If 4639 is protected and price moves up above 4750-70 level on closing basis we might see good up moves in favor of bulls.
- Price breaking below 4639 will resume the down move.
- S&P 500 FUTURES UPDATE
ES Trend update
- Four hour chart shows price violating 20 period SMA. This time price action looks good for bulls. Hour chart also shows price above Ichimoku cloud.
- Four hour candle closing near the High will confirm this bullishness.
- SPX WEEKEND UPDATE
November 27, 2011
APPLE Weekend Update
- APPLE Daily is near 200 SMA
- Indicators in daily chart is showing oversold readings.
- Price is yet to confirm a reversal. Last chart shows a falling wedge like pattern which should help bulls if price breaks and closes above the upper trend line.
- Price sustaining below 200 SMA and breaking below the weekly trend line will be negative for apple.
- SPX WEEKEND UPDATE
S&P 500 Weekend update
- Weekly chart shows possibility of the correction continuing. Daily chart is calling for a bounce from oversold status with price calling at the Golden ratio. But for any turnaround price has to confirm by giving a higher close in hourly charts At the moment price rending down below 20 Hour SMA which should help bears to extend this fall.
November 25, 2011
S&P 500 Futures Trend update
CHART-II
- ES could not move above the hourly cloud. Looks like the reversal attempt is about to fail.
CHART-I
- ES Four hour chart shows price testing 20 Period moving average. Bulls need price to close above this level for turning the trend.
- One hour chart shows price pausing at the Hourly cloud. Bulls need a cloud break to turn the trend in their favor. Failing to close above the cloud will be negative for bulls.
- This bounce was started from the Golden ratio in daily time frame So that level has to be held for a short term bottom to be in place.
- ES FIBONACCI LEVELS UPDATED
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