- SPY 4 Hour chart with up trend lines and 50 period SMA as support levels.
- Breaking below 38.2% Fib level may extend the correction towards the golden ratio. An up move may happen from the first up trend line or the 50 period SMA.
- ORACLE TREND UPDATE
September 24, 2012
4 HOUR CHART
- Sustaining below 50 Day SMA should continue to favor bears of crude oil.
- Crucial support and resistance levels shown in 2nd chart.
- Last chart is of 4 Hour time frame which shows price near crucial level of 90.96. Trading above the 20 Period SMA may give a bounce in favor of crude oil bulls.
- BEAR FLAG OF COCA COLA
- TCS Weekly chart shows a bearish engulfing pattern.
- Price is near a crucial support level between 1280 - 1300 and also near an up trend line
- Fall of last week led the stock towards its 50 Day SMA were the fall has taken a pause for now.
- CNX IT CHART ANALYSIS
- CNX IT Had a bearish week. Price took support near 20 Day SMA and for the weekly chart it was 100 Week SMA.
- Daily chart with up trend line shows support near 6243 - 6300 level.
- Daily MACD and overbought Weekly stochastic may favor bears if the moving averages mentioned above gets broken.
- NIFTY WEEKEND UPDATE
- First chart is of the daily time frame which shows the steady up move of Oracle.
- 2nd chart shows the approaching resistance level of Oracle in weekly time frame.
- Resistance level is also the 78.6% Retrace level. Weekly MACD is showing some weakness but continue to stay in Buy mode It may give a sell signal if the Up trend line gets broken.
- SLV WEEKEND UPDATE