January 25, 2013

GDX Death cross and Support levels

  • GDX Daily chart shows the death cross. Price get resisted near 50 and 200 Day SMA.
  • Second chart shows a possible falling support line.
  • Last chart shows previous swing lows near 40.40 and 39.08 which may act as support levels if the correction continues.

ES Hour chart analysis

  • Price moving up in a channel
  • Hourly cloud and 100 Hour SMA continue to act as support.
  • For bigger correction price has to do a channel and cloud break.

Netflix Chart analysis

  • NFLX Daily chart was in a minor up trend and the news reaction too went with the trend.
  • Price is trading above the weekly swing high of 133 levels. Sustaining above this level will keep the upward momentum intact.
  • Price is testing 38.2% Fib level. Closing the week above this level may take price towards the next Fib level in the coming weeks. Weakness can be seen if price starts to trade below 133 levels.

APPLE Falling in a Channel

  • Apple Weekly chart shows price falling below the cloud, this event last took place in 2008.
  • Weekly chart also shows price violating the Multi Year up trend line. Next crucial level in chart is the zone between 410 - 430.
  • Last chart shows a possible descending channel. Price has fallen below 100 Week SMA. Bears need a weekly close below this level. Keeping inside this channel will further strengthen bears of Apple.

NIFTY Intraday update

  • NIFTY 15 Minutes chart shows price contraction between support and resistance lines.
  • Strength on nifty sustaining above 6045 levels
  • weakness below 6007 levels. Hour chart shows 78.6% Fib level giving support for now. Hour closing below this level may extend the correction towards 5987 levels and lower.

IVRCL Chart analysis

  • IVRCL Shows big down move with volume breakout.
  • Price has broken below the support level of 37
  • Next possible support at 27 levels.

CRUDE Oil Channel and Golden cross

  • CRUDE Oil Daily chart shown with resistance at 78.6% Fib level.
  • Sustaining inside the daily channel will help crude oil bulls to extend the up move.
  • Daily chart shows a bullish Golden cross which may help bulls to buy on dips.