July 31, 2012

CRUDE OIL Support and resistance levels

  • Daily time frame shows resistance at 100 Day SMA and daily cloud.
  • Support levels are 86.91 and 50 Day SMA.
  • Break of these moving averages on daily closing basis may give a bigger move.

APPLE Resistance lines

  • First chart is the hour time frame with the resistance line and the GAP which may get filled if the resistance line works for bears
  • Crucial resistance levels in daily charts are 615 and 619.

S&P 500 Futures chart analysis

  • ES Testing crucial levels in hourly chart,  50 Hour SMA and the Hourly cloud.
  • Price breakdown below the cloud and the range shown in four hour chart may result in a correction.
  • Price sustaining above 50 Hour SMA shall give a breakout in favor of bulls.

SILVER Resistance levels

  • SILVER Breaking out above 50 Day SMA.
  • Price moving up from weekly trend line.
  • Weekly chart has resistance at 20 Week SMA and the falling resistance line as shown in last chart.

NIFTY Chart update

  • Nifty daily could not sustain above 20 Day SMA. Bulls need a daily close above this level to sustain the up move. A bearish candle here means correction may follow.
  • Price falling below 50 Hour SMA could trigger a bigger fall.
  • Price sustaining above the 30 Minutes trend line could give an intraday up move.

SBI Chart analysis before RBI policy

  • SBI Weekly chart shows  a triangle shaped contraction pattern. Price is taking support near the support line.
  • It's a crucial day for the stock because of the RBI policy. Good news should result in an up move towards 50 Day SMA and a cloud break should target the upper resistance line shown in first chart.
  • Price unable to sustain above 200 SMA should resume the fall.

NIFTY Chart analysis

  • Nifty daily chart has one more GAP to be filled between 5267 - 5300. But price has to cross a crucial resistance zone before that.
  • Nifty's 20 Day SMA at 5218.
  • 5 Week High EMA at 5223
  • Golden ratio for the move from 5348 - 5032 is near 5229.
  • Crossing the above mentioned levels may help nifty bulls to fade the GAP at the Top

ES Chart update

  • ES 4 hour chart Trying to stay above previous resistance levels which are acting as support.
  • One hour chart shows a range which has to be broken for further moves to happen.
  • Price sustaining above 50 Hour SMA and cloud may lead to an upper breakout.

July 30, 2012

S&P 500 Futures chart update

  • ES One hour chart sustaining above 50 Hour SMA and hourly cloud should favor bulls for a bullish consolidation breakout.
  • ES Daily chart shows crucial resistance at 78.6% Fib level which should be crossed for extending the current up move.

BANK NIFTY Chart analysis

  • Weekly chart of bank nifty shows price contraction in a triangle pattern. A bigger move will happen once price breaks out of this pattern. Weekly chart has a sell signal which will be effective below 20 Week SMA and the support line of the triangle.

July 29, 2012

DOW JONES Chart Analysis

  • For the bullish momentum to sustain price must sustain above 12977 and 78.6% Fibonacci level.
  • Sustaining above these levels could take Dow Jones towards 13200 - 13300 levels.
  • Unable to sustain above the 12977 could result in a bearish week.
  • Last chart shows a weekly rising wedge pattern. If the rising wedge is held we might see a big breakdown from this pattern.

INTEL Chart analysis

  • INTEL Weekly chart is moving up from 50 Week SMA. But price is near resistance levels like 50 and 200 Day SMA.
  • Price is near daily Ichimoku cloud which may act as resistance. For a bigger up move price must do a cloud breakout. Sustaining below the cloud will give shorting opportunities.

July 28, 2012

S&P 500 Weekend update

  • SPX Daily with MACD histogram shows negative divergence.
  • Weekly chart shows a completely different picture with MACD about to give a buy signal.
  • SPX Four hour line chart shows price at a resistance line. So for next week we might get a pullback because of the negative divergence and a breakout in favor of bulls because of the weekly MACD.
  • Month chart shows price moving towards a possible resistance line. If macd buy works well price is likely to breakout above this resistance line to extend the up move.

NIFTY Weekend Update

  • Daily chart with Ichimoku cloud shows price bouncing from the cloud.
  • But the up move was stopped at 100 SMA and 5 Day High EMA.
  • Weekly stochastic sell signal is still effective as price stays below 20 week SMA.
  • Despite yesterday's bounce bears are looking strong. 

July 27, 2012

EURUSD Chart Update

  • EURUSD Daily chart moving towards resistance line and 50 Day SMA.
  • Trend of daily time frame will stay in favor of bears as long as price trades below the cloud.

GOLD Chart Update

  • Gold weekly chart shows price testing crucial support resistance zone between 1620 - 1640.
  • Crossing this zone on weekly closing basis will take gold towards the weekly falling resistance line from 1920 - 1720.
  • Daily chart shows price above 100 Day SMA Which is good for bulls But price is also near 200 SMA which should also be crossed for a bigger up move to happen.