January 18, 2011

APPLE Gaps down below 50 hour moving average

APPLE HOUR CHART (CLICK TO ENLARGE)
APPLE DAILY CHART
 
  • Apple has gaped down and is trading below its 50 hour moving average.
  • Important support in daily time frame on closing basis is 318.60
  • Up trend in larger time frame will be challenged only if bears manage to close price below 318 level.
  • If stock climbs above 50 hour moving average again this GAP will be faded in the day's to come.
  • CRUDE OIL CHART ANALYSIS

DOLLAR Violating its support line

  • US Dollar is violating its support line at 79.025
  • If day closes below this level dollar will turn negative in the short term
  • Next support is at 78.30 in daily time frame.
  • CRUDE OIL CHART ANALYSIS

S&P 500 Futures Before opening bell

USDJPY Flag pattern

  • USDJPY pair is showing a flag and pole pattern in its four hour time frame.
  • If goes according to the rules this can give more than 200 pips.
  • Break below the support line will make the pattern invalid.

RELIANCE INDUSTRIES in a triangle

  • There is a long trade possible in reliance with oversold stochastic and trend line support.
  • If the trend line holds the price above it we may get a bounce in reliance.
  • Breaking the trend line will be negative and one should have a small stop loss.
  • Price sustaining below the trend line will be an opportunity to go short.
  • CRUDE OIL CHART ANALYSIS

BANK NIFTY positive divergence

  • Bank nifty if it holds above the trend line shown in first chart will give a small rally towards its 200 DMA.
  • MACD Bars are showing positive divergence with price. But price has not shown any positive movement till now. Divergence will start to take effect only if price confirms by making a higher close.
  • If bank nifty breaks yesterday's low then positive divergence will start to vanish.
  • CRUDE OIL CHART ANALYSIS

CRUDE OIL Weekly chart analysis

  • The second chart shows crude oil breaking out of a triangle in weekly chart.
  • Target for this breakout comes at 100.50 approximately.
  • But for this to get achieved crude has to break above the two resistance lines shown in chart 1.
  • GOLD MINERS TECHNICAL ANALYSIS