January 8, 2013

CRUDE Oil Chart update

  • Crude Oil resistance near 50 Week SMA and the daily chart with fib level shows bulls struggling near golden ratio.
  • Price near the resistance line of the contraction pattern. We may see weakness from the resistance line to keep price within this pattern for some more time. A bigger move could come only on a decisive breakout on a weekly closing basis.

FACEBOOK Intraday update

  • FACEBOOK Falls to its previous resistance level which may act as support.
  • Hour chart also near 20 Hour SMA which may stop a bigger fall.
  • Holding on to the above levels price may try new high's soon. Closing below 28.57 will favor bears of  FACEBOOK.

S&P 500 Futures chart update

  • ES breaks below the cloud and Range.
  • If the fall extends price could test the 200 Hour SMA.

APPLE Trend update

  • Price continues to trade inside the weekly cloud. Breakdown below 500 could start the slide. For bulls need a close above 555 for a bigger up move to happen.
  • Daily chart shows 50 day SMA and daily cloud as crucial resistance levels.
  • Last chart shows a support zone just above Golden ratio. If this support zone gets broken Golden ratio too may not hold and the stock could slide to much lower levels. Price holding above Golden ratio could start a bigger up move.

FACEBOOK Chart update

  • First chart shows price closing above immediate resistance levels.
  • Weekly chart shows next Fibonacci levels as target. 
  • Last chart is daily line chart which shows possible resistance zone between 30.77  and 31.

NIFTY Chart update

  • Daily chart shows a bearish engulfing pattern which needs confirmation with a negative candle and high volume.
  • It's crucial for bears to close below the remaining portion of the GAP between the last candles low at 5977 to 5963. 
  • Price has closed below 5 Day High EMA. Next support at Day low EMA(5964). Daily close below day low ema should favor bears to extend the fall.  

S&P 500 Analysis after closing bell

  • SPX shows weakness from the rising resistance line.
  • Second chart shows a range in 15 Minutes time frame. Weakness if price starts to trade below 1455 levels.
  • Weakness in daily time frame only if price starts to trade below 78.6% fib level on closing basis.

DOW Jones chart update

  • Dow Jones Daily chart shows weakness at 78.6% Fib level.
  • Weekly chart shows crucial support at 13280 levels.
  • Last chart shows price getting resisted at Upper bollinger band. Negative close today could give a correction towards Middle bollinger band.