February 20, 2013

EURUSD Support and Resistance levels

  • EURUSD Seeking support at 50 Day SMA.
  • 2nd chart shows possible support levels in 4 Hour time frame.
  • Last chart shows price getting resisted at Ichimoku cloud of 4 Hour time frame. This level will continue to act as resistance on up moves.

MCX CRUDE Oil chart update

  • Crude oil testing crucial support zone between 94.96 - 95.27
  • Crude oil testing 23.6% Fib level.
  • Price has to close below 50 Day SMA for bigger down fall to happen. 

ES Chart analysis

  • 4 Hour and one hour chart shows price testing previous resistance line which may act as support.
  • Last chart shows possible  support line in one hour time frame.

BANK Of America Chart update

  • Daily up trend line in daily chart may lead to an upper breakout.
  • Any breakout should sustain above 12.2 and 50% Fib level shown in weekly chart for an extended move to happen.
  • Weakness on closing below 11.97

FACEBOOK Falling wedge update

  • FACEBOOK Falling wedge pattern continue working well so far for bulls.
  • Price has closed above 50 Day SMA. Immediate resistance levels at 29.27 - 29.29 levels.
  • Last chart shows the Fibonacci resistance levels for this up move.

MCX Copper Trend line breakdown

  • MCX Copper daily chart shows price below the rising support line
  • 2nd chart shows a possible head and shoulders pattern. Price nearing the neck line of the pattern. This area between 432 and 435 may act as strong support level. 
  • Further breakdown only if bears of copper manage to break below the zone between 432 - 435.

NIFTY Resistance levels

  • Nifty moving up towards crucial Fib levels and Moving averages like 50 and 20 Day SMA which may act as resistance levels.
  • Daily MACD is aligning well for a bigger up move But price has to close back above the resistance levels mentioned above. Closing back above the daily Ichimoku cloud may also add momentum for bulls.

EURUSD Breakout attempt

  • EURUSD Rising from 50 Day SMA.
  • Price is testing the resistance line as shown in first chart.
  • Sustaining above 23.6% Fib ratio may lead to higher levels

SILVER Long term Charts

  • First chart shows price near the weekly up trend line. If this line does not hold then price may fall to the 200 Week SMA or the Shaded portion shown in the second chart.