May 2, 2012

APPLE Channel and IHNS pattern

  • Apple 15 Minutes continue to move down in a channel.
  • Hour chart shows a possible Inverted head and shoulders pattern. Price need to stay above 50 Hour SMA For this particular pattern to work in favor of bulls.
  • Daily chart continue to test 50 day SMA. Close below 50 SMA May lead to the recent lows again.

S&P 500 Futures Support levels

  • ES One hour chart has broken crucial support levels.
  • Four hour chart is near important support levels (200 period SMA and 38.2% Fibonacci levels) If these two levels held we may see es turning  up again.

GOOGLE Chart Analysis

  • First chart is show with MACD.  Crucial support in  this chart is the 200 Day SMA.  If  200 SMA is held MACD should  give a buy signal.
  • If the 200 SMA is held we may see a triangle pattern in google. Price has to sustain above 50 Day SMA for a possible up move towards the resistance line of the triangle.
  • 20 and 50 Day SMA is showing  a possible bearish  setup. If price stays below 20 SMA we might get a trending move in favor of bears  provided 200 SMA gets broken.

NIFTY Chart Analysis

  • No big change in nifty's position. Price below 20 and 50 day SMA.
  • Weekly chart shows price getting closer to a breakout. Price has to take a decision  to either close above 5 week High EMA or 20 Week SMA.

EURUSD Chart update

  • EURUSD Near resistance levels 
  • If price does not give an upper breakout above 200 SMA and the falling resistance line  soon we will get the next down move towards 1.3050 levels.

ES Support levels

  • ES has fallen back into the hourly range.
  • Hourly supports near golden ratio, 50 Hour SMA and the rising support lin one hour chart.

CRUDE OIL Channel breakout

  • Crude oil has violated the resistance line of the channel
  • Price has also moved above 50 day sma. A bullish close for the daily candle will confirm the breakout.
  • Crucial weekly resistance levels are shown in the last chart