April 10, 2013

APPLE Chart analysis


  • First chart of apple in daily time frame shown with a possible bullish pattern. 
  • Bulls would find it tough to execute the pattern as price is nearing strong resistance levels like 50 Day SMA and Fibonacci levels.

GOOGLE Support and resistance levels

  • Google daily chart shows previous resistance area trying to give support.
  • 38.2% Fib level is also in the same zone trying to give support.
  • Broken 50 Day SMA may act as resistance on up moves. For a bigger up move price must close back above 50 Day SMA.

SILVER Support and Resistance levels

  • Silver weekly chart bouncing from support zone.
  • Bounce in weekly chart must cross the resistance line shown in daily chart for a bigger up move to happen.
  • Last chart too shows price getting stuck at 20 Day SMA. Price has to cross 20 SMA and the shaded area for a bigger up move to unfold. 

ES Chart update

  • ES Testing resistance level.
  • Immediate support levels in hour chart are 23.6% Fib level and 50 Hour SMA. Breaking these levels may give a bigger correction.

NIFTY Chart update

  • Nifty channel in line chart shows price falling towards the parallel support line.
  • Price may give a bounce due to support levels or oversold conditions. Up moves  are likely to face selling pressure as the bearish trend looks strong.
  • 50% Fib level shown in last chart is next support area if correction extends.

ES Chart update

  • ES one hour chart shows price correction from the top after a failed breakout attempt. First chart also shows the rising support line which must be held to avoid a bigger fall.
  • Next two charts shows crucial fib levels and 50 Hour SMA which are crucial levels to hold above.

CATERPILLAR Trend update

  • caterpillar nearing 20 Day sma.
  • Price also near 23.6% Fib level in daily time frame.
  • Hour chart is trying to turn bullish, Price trying to stay above the hourly cloud. 200 Hour SMA looks a strong resistance level.
  • It's an attempt to turn the down trend which needs price to sustain above 20 Day SMA.