My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
January 25, 2011
ES Diamond pattern
S&P 500 FUTURES HOUR CHART
ES DAILY CHART
- ES Hour chart is showing a diamond pattern which looks bearish for now.
- Daily chart is still trading above the supporting trend line. So weakness can sustain only if the trend line in daily chart gets violated.
- Up trend will continue if the resistance line gets broken
- EURUSD NEAR GOLDEN RATIO
TATA MOTORS Triangle pattern
- Tata motors daily chart is showing a consolidation triangle pattern.
- Levels to watch out on a breakout from triangle pattern are 1209 and 1155 another support level is 1140.
- Breakout above 1209 may find resistance at the 50 DMA.
- CRUDE OIL WEEKLY CHART ANALYSIS
EURUSD Towards golden ratio
- EURUSD pair is in retrace mode for its fall from 1.42 level to 1.28 area.
- price has crossed the 50% retrace area and may hit the golden ratio around 1.3740 level.
- 1.3740 level is a price pivot zone so this may act as resistance for some time.
- CRUDE OIL WEEKLY CHART ANALYSIS
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