July 31, 2012

CRUDE OIL Support and resistance levels

  • Daily time frame shows resistance at 100 Day SMA and daily cloud.
  • Support levels are 86.91 and 50 Day SMA.
  • Break of these moving averages on daily closing basis may give a bigger move.

APPLE Resistance lines

  • First chart is the hour time frame with the resistance line and the GAP which may get filled if the resistance line works for bears
  • Crucial resistance levels in daily charts are 615 and 619.

S&P 500 Futures chart analysis

  • ES Testing crucial levels in hourly chart,  50 Hour SMA and the Hourly cloud.
  • Price breakdown below the cloud and the range shown in four hour chart may result in a correction.
  • Price sustaining above 50 Hour SMA shall give a breakout in favor of bulls.

SILVER Resistance levels

  • SILVER Breaking out above 50 Day SMA.
  • Price moving up from weekly trend line.
  • Weekly chart has resistance at 20 Week SMA and the falling resistance line as shown in last chart.

NIFTY Chart update

  • Nifty daily could not sustain above 20 Day SMA. Bulls need a daily close above this level to sustain the up move. A bearish candle here means correction may follow.
  • Price falling below 50 Hour SMA could trigger a bigger fall.
  • Price sustaining above the 30 Minutes trend line could give an intraday up move.

SBI Chart analysis before RBI policy

  • SBI Weekly chart shows  a triangle shaped contraction pattern. Price is taking support near the support line.
  • It's a crucial day for the stock because of the RBI policy. Good news should result in an up move towards 50 Day SMA and a cloud break should target the upper resistance line shown in first chart.
  • Price unable to sustain above 200 SMA should resume the fall.

NIFTY Chart analysis

  • Nifty daily chart has one more GAP to be filled between 5267 - 5300. But price has to cross a crucial resistance zone before that.
  • Nifty's 20 Day SMA at 5218.
  • 5 Week High EMA at 5223
  • Golden ratio for the move from 5348 - 5032 is near 5229.
  • Crossing the above mentioned levels may help nifty bulls to fade the GAP at the Top

ES Chart update

  • ES 4 hour chart Trying to stay above previous resistance levels which are acting as support.
  • One hour chart shows a range which has to be broken for further moves to happen.
  • Price sustaining above 50 Hour SMA and cloud may lead to an upper breakout.