April 3, 2013

ES Correction and Support levels

  • ES Falls below the 100 period SMA of four hour time frame which has held so far on closing basis. Now a close below this level may give an extended fall.
  • For now the 23.6% Fib level is trying to prevent a bigger fall from happening. Sustaining below this level could give a fall towards 38.2% Fib level.

FACEBOOK Resistance levels

  • Facebook four hour time frame nearing resistance areas.
  • Price near falling resistance line from 32 levels.
  • Fib levels shows price near 50% Fib level and 50 period SMA.

ES Support and resistance lines

  • ES Falling from the resistance line discussed in yesterday's post. Resistance line in 4 Hour chart has worked well so far.
  • Now 4 Hour chart also shows support in  a dotted up trend line. Below this line price may test 100 period SMA.

IWM Chart analysis

  • IWM Violating crucial rising support line.
  • Price has violated 20 Day SMA and has next support at 50 Day SMA.
  • Fib levels shows price closing at 38.2% Fib level. Breaking this level may lead to 50 SMA and 50% Fib level

SILVER Correction and support level

  • SILVER Daily chart shows price continues to create new lows.
  • Weekly chart shows approaching support zone between 26.02 - 26.75.
  • Monthly chart shows the same support zone shown in weekly chart and the Golden ratio for 8 - 49 levels which is also a support level which may get tested if there is a big fall.