My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
August 10, 2012
CRUDE Oil Update
- Crude oil daily chart shown with the corrective up move.
- Price is in a bearish continuation pattern.
- As long as price stays below 200 SMA this can only be called as a corrective up move.
- A bigger up move is possible only if price starts to trade above the weekly cloud, 61.8%(Golden ratio) and 200 SMA.
GOLDMAN Sachs chart analysis
- GS Daily chart testing 100 and 200 Day SMA.
- Price also near the GAP in daily chart as shown in second chart.
- Last chart shows Fibonacci resistance levels.
- PCLN BEAR FLAG BREAKDOWN
CSCO Broadening pattern and Resistance levels
- CISCO Moving towards 50% Fibonacci level.
- Daily chart also shows price testing 100 Day SMA.
- Last chart shows price nearing the resistance line of the broadening pattern. Bulls must stay above this line to extend this up move.
- PCLN BEAR FLAG BREAKDOWN
ES Support levels
- ES one hour chart shows price in a range.
- One hour chart also shows price with 100 and 200 Hour moving averages. Below the range price is likely to test 200 Hour SMA
- 4 Hour chart shown with Fibonacci levels and previous resistance levels which may act as support.
- PCLN BEAR FLAG BREAKDOWN
NIFTY Chart update
- Weekly line chart shows a crucial support resistance line. Weekly close above this line will strengthen bulls further.
- Bulls need to close above 100 Week SMA and the falling resistance line for gaining momentum.
- Weekly upper and lower bollinger bands has acted as turnaround levels in the recent past. If price moves above 100 Week SMA then it could lead to upper bollinger band at 5450.
- Caution: If its a bearish day today we might see a bearish weekly candle.
- TATA STEEL UPDATE
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