January 4, 2013

EURUSD Chart update

  • EURUSD Testing 50 Day SMA.
  • Weekly chart also shows the possibility of price retesting the broken down trend line before moving up again.

SILVER Chart update

  • SILVER Weekly chart near the long term trend line
  • Second chart shows daily time frame near crucial fib levels.
  • Last chart shows price below 50 Week SMA. Silver bears will remain strong below 50 Week SMA.

APPLE Chart update

  • Apple bulls need a weekly close above the Ichimoku cloud and 23.6% Fib level.
  • Crucial support for apple is at the 20 Month SMA Which is at 511 levels.

Channel of GOLD

  • Gold Bears violating 100 Week SMA. Bears need a weekly close below 100 Week SMA to take price below 1600.
  • Price is also near the base of weekly cloud. If cloud gives support Bulls may try to move up again.
  • Last chart shows a channel in daily chart. Channel support line is also trying to stop a bigger fall from happening. 

S&P 500 Futures chart update

  • ES one hour trading in a tight range.
  • Price is approaching 50 Hour SMA and the Hourly cloud. The range may soon resolved.
  • Price is likely to dip into the cloud and move up again thus making new highs's.

TATA MOTORS Intraday update

  • TATA Motors hour chart shows a trend line break.
  • Price has filled a small GAP in chart.
  • Price is testing 50 Hour SMA which has acted as support during this up move. Hour closing above 50 Hour SMA should result in a good long trade.
  • More weakness below 312 levels.

NIFTY Chart Update

  • Some hope for bears in the form of a Hanging Man But this pattern need confirmation with lower opening and a close preferably into the GAP area shown in second chart with large volumes.
  • 2nd chart shows crucial support levels in 5 Day High EAM at 5977 and the GAP between 5963 - 5982.
  • Last chart shows price above the crucial 78.6% Fib level. Price must close above this level on closing basis to carry the bullish momentum to the coming week.

S&P 500 Analysis after closing bell

  • SPX Daily and 4 Hour charts shows price near potential resistance levels.
  • 30 Minutes shows price in a range 1449 - 1465.
  • Weakness on closing below 1449 levels which may lead to bigger correction.
  • Getting support near 1449 may lead to an upper breakout above 1465.

CRUDE Oil pausing at Golden ratio

  • Crude oil daily chart pausing near previous support level of 93.95.
  • Fib levels hows price pausing near Golden ratio.
  • Weekly chart yet to test the falling trend line. Close above golden ratio or the previous support line may lead to a breakout above the falling trend line.