My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
August 2, 2012
NIFTY Chart analysis
- Price is trying for a weekly cloud breakout. Recent attempts to sustain above the cloud has failed.
- MACD is getting ready for a buy signal. But the GAP near 78.6% Fib level may act as resistance.
- For a bigger up move a weekly close above the levels shown in last chart is needed.
- GOLD FALSE BREAKOUT
APPLE Chart analysis
- APPLE Hour chart shown with resistance zone from 613 - 619 levels.
- Daily chart shows resistance near 78.6% Fib level.
- Crucial support in daily chart is 20 Day SMA. Closing the day blow 20 SMA should result in a correction.
- GOLD FALSE BREAKOUT
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