My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
April 24, 2012
APPLE Trend update
- Daily chart has broken below 50 Day SMA.
- Next hope for bulls is the daily Ichimoku cloud.
- Hour chart is trending down below 50 Hour SMA and the cloud.
- Breaking 556 will extend the correction towards 547 levels.
- APPLE WEEKEND UPDATE
ES Support and resistance levels
- Black support line shown in first chart is crucial. Breaking below it will take ES towards 1340 levels.
- 2nd chart shows the bearish moving average alignment which will continue to favor bears.
- Things will be tough for bulls as the rally's will find it tough to cross 50 period SMA, The falling resistance line and 200 period SMA.
- GOLD NEAR LONG TERM SUPPORT LINE
GOLD at Long term support line
- Gold testing the long term channel support line.
- Price is sustaining below 50 Week SMA which is good for gold bears.
- Breaking below 1612 will strengthen bears of gold.
- SILVER DESCENDING TRIANGLE AND GOLDEN RATIO
NIFTY Support levels
- Nifty support levels in daily chart.
- 200 Day SMA and Lower Bollinger band may act as crucial support levels. Below this price may fall towards 50% Fibonacci level at 5080.
- A pause or a bullish candle from 200 Day SMA may give a bounce in favor of bulls.
- USDINR CHART UPDATE
S&P 500 Analysis after closing bell
- Last chart shows 50 Hour SMA below 200 Hour SMA. Up moves towards 200 Hour SMA will face selling pressure.
- Four hour chart shows price taking support near 200 period SMA and near recent swing low of 1357. Breaking below 1357 may target 1340 levels.
- For bulls to regain momentum they should break and trade above 200 Hour SMA.
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