September 4, 2012

ES Support and Resistance levels

  • ES 4 Hour chart near support zone. Below this level ES may test 200 period SMA of 4 Hour time frame.
  • Cloud of 4 Hour chart continue to act as resistance.

CRUDE Oil Chart analysis

  • Price in a range near 200 Day SMA. 
  • Bulls must cross the golden ratio for a bigger up move.
  • Last chart shows price contraction between resistance and support line which should result in a bigger move soon.

NIFTY Support and Resistance levels

  • Nifty staying above the cloud will favor bulls to move up. Price falling into the cloud may give a breakdown.
  • Weekly candles could not sustain above 100 week SMA.
  • Daily chart shows price near support and resistance lines. Price may give a bigger move from this level.

BANK Of America Chart analysis

  • Bank of America Weekly chart shows price getting resisted near range top at 8.4.
  • Next chart is BAC Weekly chart with cloud which shows price unable to breakout above the weekly cloud. For a possible up trend to start price must breakout above the weekly cloud.
  • Daily chart shows immediate support at 50 Day SMA. Sustaining above it may avoid a correction and start an up move.