April 12, 2012

ES Chart analysis

  • ES approaching the broken support level which may act as resistance.
  • Price is also near 200 Period SMA. Bulls shall sustain above this line for a bigger up move to happen.

AUDUSD Channel breakout

  • AUDUSD Daily chart shows a channel breakout.
  • Price also staying above four hour Ichimoku cloud.
  • Daily chart is testing the Cloud. Price need to sustain above 20 Day SMA for a bigger up move to unfold.

GOOGLE Chart Analysis

  • Google Monthly chart near resistance line
  • Daily chart shows price stuck between support and resistance lines.
  • Crucial support in daily chart is the 50 SMA line and Resistance at 658.

COPPER Testing support levels

  • Doji candle at the daily trend line is giving hopes of a turnaround for bulls of copper.
  • Hour charts too is trying to turn up. Price has to sustain above the hourly cloud for a possible turnaround in daily chart to happen.

NIFTY Hour chart analysis

  • Nifty hour chart with possible resistance levels which must be crossed for a bigger up move to unfold.
  • Unable to trade above the falling resistance line should result in a short trade towards the rising support line showed in 2nd chart.

Bank Nifty support and resistance levels

  • Bank nifty getting resisted at 20 and 50 Day SMA. Last swing high of 10502 too is an important resistance level. Bulls must cross these levels for a bigger up move to happen.
  • Bigger breakdown Should happen below 50 Week SMA. Price not closing below 50 Week SMA will keep bulls interested for a possible upper breakout.
  • S&P 500 EOD UPDATE

S&P 500 Analysis after closing bell

  • Four hour chart shows price getting support at 78.6% Fib level. Down move will resume once this level gets violated.
  • Price sustaining below the cloud should favor bulls. Up moves will find resistance near the cloud.
  • Daily chart too tried and failed to cross 50 Day SMA. Price closing above 50 SMA may result in an up move.