July 31, 2013
- EURUSD 4 Hour chart violating 50 period SMA. Closing below this line may give a good trade as it has done in the recent past.
- Last chart shows price moving towards 23.6% Fib level. Falling below this level may give a bigger fall for EURUSD.
- For bulls of EURUSD Need price to close back above 50 period SMA to avoid a fall.
- GLD CHART ANALYSIS
- Gld Daily chart shows price testing 50 Day SMA.
- Weekly chart shows price at 23.6% Fib level.
- Price levels also shows price near previous support level which is acting as resistance. GLD Must break and sustain above these levels for a bigger up move to happen
- Copper 4 Hour chart shows a channel breakdown.
- Weekly chart shows price near the 2011 lows again.
- Copper bulls need to take support at the weekly levels shown in second chart and do a breakout above the resistance line for a bigger up move to happen.
- Weekly close below the support lines will extend the fall in copper.
- Price took support near 20 Day SMA.
- Daily chart with MACD Shows weakness before the results announcement.
- Weekly chart is reacting from the falling resistance line.
- Price testing 20 Day SMA. Sustaining below this level may lead to more weakness. For bulls must protect 20 Day SMA to move higher.
July 30, 2013
- 4 Hour chart shows the up move being supported by 50 period SMA. Weakness for the trend only on price falling below this level.
- Daily chart shows price approaching a resistance line.
- One hour chart shows price testing 100 Hour SMA. Weakness on hourly time frame on price falling below this line.
- APPLE Chart update
- Nifty in a possible diamond pattern. The support line can be redrawn for this pattern as Price may do a small bounce from either the Golden ratio or the GAP shown in last chart. Diamonds are mostly bearish patterns.
- Price closed below 200 Day SMA which is a bearish event. If the fall continues below 50% Fib level price may target the Golden ratio or the GAP which is likely to give a bounce.
- Apple daily chart shows price approaching crucial resistance line.
- On a breakout and close above this line, price will move towards the falling 200 Day SMA which is a major resistance level.
- Apple is moving up from long term support levels as shown in the below link of the previous post. So the chances of a bigger breakout looks high.
- APPLE LONG TERM SUPORT LEVELS
July 29, 2013
- Wynn Resorts in a contracting triangle pattern.
- Crucial resistance at 50 Day SMA. Bulls need a daily close above 50 SMA and falling resistance line for a bigger up move to follow.
- Possible breakdown on closing below 200 Day SMA.
- TESLA MOTORS WEEKEND UPDATE
- Silver near 50 Day SMA and near channel support line So this price contraction may soon get resolved.
- Channel may get resolved soon for a bigger up move in silver.
- For bulls need a strong breakout above the daily cloud for a bigger up move to follow. Bears need to stay below the channel to extend the current trend.
- GOLD WEEKEND UPDATE
- ES Four hour chart shows price moving sideways.
- Price is able to hold above crucial support levels and 4 Hour cloud.
- Price in a range after an up move is mostly bullish. Strength on price sustaining above the cloud. Weakness on price trading below the 4 Hour cloud.
- S&P 500 WEEKEND UPDATE
- TESLA MOTORS WEEKEND UPDATE