- Caterpillar breaking support levels. 86.25 was a crucial support level which is broken.
- Price is approaching an important weekly trend line which may act as support.
- Price has broken below Golden ratio and is moving towards 78.6%. If the up trend line or 78.6% does not hold price may fall towards 67 levels.
My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
June 4, 2012
CATERPILLAR Chart Analysis
APPLE Chart Analysis
- Apple testing 100 Day SMA and crucial support near 548. Closing the day below these two levels will give 528 levels.
- 50 and 20 day SMA is showing a bearish cross. So bounce from the current levels should sustain above 20 Day SMA for avoiding a bigger fall.
- SPY WEEKEND UPDATE
BULL FLAG of Gold
- Hour of gold in a bull flag pattern. For this to breakout in favor of bulls price must sustain above 50 Day SMA.
- Price also testing previous support zone. For bulls price must sustain above this zone and the falling resistance line shown in second chart for a bigger up move to happen
- CHANNEL OF CRUDE OIL
The channel of Crude oil
- Crude oil four hour chart continue to fall in a descending channel.
- Price is hitting the support line which may result in a small bounce. A complete reversal may not happen.
- Cloud of four hour is a major resistance zone.
- Hour chart may turn positive above 50 Hour SMA.
- COPPER WEEKLY SUPPORT LEVEL
COPPER at Weekly support level
- Copper hour chart is at crucial weekly support band.
- Break below 3.19 levels may result in bigger falls for copper.
- Hour chart is trying to turnaround and need to trade above the trend line and cloud for a bigger up move to happen. Failure to trade above these levels may result in breaking this crucial support levels.
ES Support levels
- ES Four hour chart shows a possible channel support line which must be hold for bulls to have a bounce.
- Daily chart too is trading near its golden ratio which may act as a bounce area.
- SPX ANALYSIS AFTER CLOSE
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