May 31, 2012

APPLE Chart Analysis

  • Apple 30 Minutes chart shows price moving up in a bearish rising wedge pattern. 
  • One hour chart shows price moving up above 50 Hour SMA. So for a bigger fall price must break below the support line and 50 Hour SMA.
  • For bulls of apple price sustaining above 575 - 578 zone may lead to an upper breakout.

S&P 500 Futures support levels

  • ES Daily chart shows crucial support at 1287.50.
  • Price has fallen below 200 SMA. A daily close below this level will favor bearish trades.
  • Monthly candle looks bearish. Bears will be stronger if price starts to trade below 20 Month SMA.

AUDUSD Chart Analysis

  • AUDUSD Monthly chart shows price testing crucial support zone.
  • Four hour chart is still trading below the cloud which will favor bearish trades. 
  • Daily chart too is trading below 20 Day SMA.
  • A trend change or trading bounce in favor of bulls of AUDUSD may happen only if the pair starts to trade above the cloud and 20 Day SMA, till then this down trend will remain strong.

MCX Gold near resistance level

  • MCX Gold four hour chart with a range.
  • Price near the top of the range is likely to give a short trade from here.

GOLD Chart analysis

  • Gold monthly chart testing 20 month SMA.
  • Weekly chart is shown with a broken trend line and horizontal support near 1522 levels.
  • If the above mentioned levels are taken out on closing basis then a bigger correction is possible in gold.
  • Four hour chart shows price testing 100 period SMA. Which must br crossed for a bigger up move to unfold.

TATA MOTORS High Volume breakdown

  • Tata Motors daily chart shows price breakdown with increasing volume.
  • 255 - 256 level was crucial support level. Having given a breakdown from this level it will act as resistance from now on.
  • Stock may continue to move down towards the golden ratio or 50 Week SMA shown in the last chart in the coming weeks.

ES Support and resistance levels

  • ES bulls need a decisive close above 20 day SMA and 38.2% Fib level for the up move to continue.
  • Bears need a breakdown and close below 200 SMA.