June 21, 2012

GOLD Update

  • Gold daily chart breaks the rising support line.
  • Price moving towards crucial weekly support levels.

ES Chart analysis

  • First chart shows es four hour time frame with a possible support line
  • Second chart shows price testing 50 Day SMA. Bears of ES need a close below this level.
  • Last chart shows previous support acting as resistance.

APPLE Chart analysis

  • Apple one hour chart shows price in a range between 580 - 590 which has to be resolved for a bigger move to happen.
  • Four hour chart shows price contraction in  a bearish pennant formation.
  • Bulls are safe as long as price closes above 50 and 100 Day SMA.

Microsoft Resistance levels

  • MSFT Weekly line chart shows price entering a resistance zone.
  • Daily chart shows price testing the daily cloud and Golden ratio.
  • Above mentioned levels should be crossed by bulls of MSFT to target 32 and More. Bulls are safe as long as the closing price stays above 50 Day SMA.

Silver testing support line

  • Silver four hour chart shows price testing crucial support line. Breaking this support line could lead to a test of the weekly support levels.
  • Weekly support is between 26.14 - 26.36 levels. 78.6% Fib level shown in last chart too is an important support area in weekly chart.

NIFTY Hour chart analysis

  • Price contraction shown in the below chart resulted in a breakout in favor of bulls. For tomorrow bulls has to face the resistance zone of 5180 - 5200 once again.

  • Nifty hour in a contraction pattern. Breakout from this pattern should give good direction.
  • Intraday weakness below 5094 and 23.6% Fibonacci level. Breaking the support line could lead to a larger correction.
  • Bulls strong above the resistance line and 5145 levels.

SBI Intraday update

  • Breaking below the support line and 200 Hour SMA Should favor a short trade in SBI.
  • Breaking above 50 Hour SMA and above 2165 levels its better to stay long.

SBI Chart Analysis

  • SBI Weekly chart shows price getting resisted at the falling resistance line.
  • Price is unable to move above the cloud which is also negative. Week closing inside the cloud will keep bears interested.
  • Indicators in daily chart are looking negative But price has to fall below 50 SMA for the correction to extend towards 200 SMA. Price sustaining above 50 SMA may save bulls from a bigger fall.

S&P 500 Analysis after closing bell

  • Levels shown in four hour chart has not broken yet. Price has not sold off from these levels either.
  • Breakout above this level can give 1390 levels.
  • Sell off may give 1335 and 1300 levels.

IBM Chart Analysis

  • Daily chart of IBM is testing resistance levels.
  • Price is unable to cross 100 Day SMA. It is also a confluence of resistance as price resistance is near the Golden ratio.
  • IBM hourly charts continue to look bullish. Hour is showing a Golden cross. This zone of 50 and 200 Hour SMA will act as support. IBM bears must break below this zone for the resistance levels of daily to be effective.