My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
October 22, 2012
APPLE Trend update
- Apple doing an oversold bounce which may stop at the broken 100 Day SMA.
- Hour shows price moving down in a channel
- Hour trend will remain down as long as price sustains below the cloud.
- QQQ WEEKEND UPDATE
NIFTY Chart analysis
- Nifty in a trading range between 5630 - 5740
- Weekly indicators are at overbought levels but yet to trigger a sell so the larger time frame buy's are still intact. So one should wait for a close below 5630 for further selling. Close above 5740 may resume the up move possibly towards the resistance line shown in the second chart.
ES Chart analysis
- Price falls to the support zone in four hour chart.
- Daily chart also shows price testing crucial 23.6% Fib level.
- Hour chart shows price below 78.6% Fib level. Breaking above this level could give a small bounce towards broken Golden ratio. Sustaining below 78.6% Could break the previous swing low.
- DOW JONES WEEKEND UPDATE
- QQQ WEEKEND UPDATE
COCA COLA Bear Flag Update
- Coca cola continue to move down from the bear flag pattern.
- Price has also violated the support line of a contracting pattern.
- Price is about to test 200 Day SMA. For bigger falls price must close below 200 Day SMA. 50 sma is acting as stiff resistance level.
- DOW JONES WEEKEND UPDATE
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