September 21, 2011

APPLE Negative Divergence

  • AAPL Four hour chart with MACD indicator.
  • Price and MACD is starting to diverge. 
  • Price confirmation is yet to come. This time frame shows a bearish candlestick formation But price has to confirm by breaking 411 and 407 levels.

SPY Near 50 Hour moving average

CHART-II
CHART-I
  • Price approaching 50 Hour moving average.
  • Breaking and closing below this level will take spy towards lower end of  the range.
  • Getting support here may result in a bounce

COPPER Falling to the support line

  • Copper daily chart in a big falling wedge pattern
  • Current fall may find support near 3.61 levels.
  • Price may give an up move from this level

MICROSOFT Triangle pattern

  • MSFT Week shows price near the resistance line of the triangle pattern.
  • MACD bars in daily chart is showing negative divergence.
  • So price will start to come down towards the support line of the triangle in the coming days.
  • GOLD SUPPORT AND RESISTANCE LEVELS
  • S&P 500 ANALYSIS AFTER CLOSING BELL

SBI Resistance line

  • SBI hits and pauses at the resistance line.
  • Price momentum looks good for bulls.
  • Price trading above 20 Day moving average.
  • We shall see reversal candles here for going short.
  • Break and close above this line will add strength for the current up move.

NIFTY Resistance levels

  • Nifty if breaks out above the resistance line shown in first chart will meet 50 Day moving average. 50% Fibonacci levels and the gap which starts @ 5230 level. And if it manages to continue through these resistance levels it will be a strong move.
  • Breaking the support line of this pattern will act as a continuation of the larger trend.
  • GOLD SUPPORT AND RESISTANCE LEVELS
  • S&P 500 ANALYSIS AFTER CLOSING BELL

S&P 500 Analysis after closing bell

  • Daily chart shows a bearish candlestick formation. Long tail shows selling pressure at higher levels.
  • Correction started from near 50 Day Moving Average. For bears follow up selling needed to break SPX below 20 Day Moving average.
  • Hour chart too looks negative, Price falling below 50 Hour moving average will extend this correction.
  • GOLD SUPPORT AND RESISTANCE LEVELS
  • SINA WEEKLY TRIANGLE PATTERN