April 22, 2013

EURUSD Support and Resistance levels

  • EURUSD 4 Hour time frame shows immediate support levels at 38.2% Fib level and 100 period sma.
  • Daily time frame shows price getting resisted at 100 Day SMA.
  • Violation of these levels on closing basis may give good direction for EURUSD.

QQQ Resistance levels

  • QQQ hour chart shows price near falling resistance line.
  • Price near hourly cloud which may act as resistance.
  • Fib levels shows price near Golden ratio. So for the up move to continue price must sustain above multiple resistance levels.

GOLD Resistance levels

  • Immediate resistance level for gold at 50 period SMA of 4 Hour time frame.
  • If price sustains above 50 Period SMA it could target the broken channel support line and Golden ratio Fib level shown in the same chart.

CATERPILLAR nearing Death Cross

  • Caterpillar nearing death cross in daily chart.
  • Weekly chart is testing crucial support zone between 78 - 80. If this level holds an up move is likely.
  • Weekly chart also shows price closing below 200 Week SMA. If bounces today price should sustain above this level(200 wsma) otherwise a bigger correction looks likely in this stock.

ES Chart analysis

  • ES 30 Minutes chart shows price in a small range. Price above the cloud should lead to an upper breakout.
  • One hour chart shows price ranging above 100 Hour SMA. Sustaining above 100 SMA should lead to 200 Hour SMA.
  • 4 Hour chart shows price ranging at 38.2% Fib level with next resistance at 50% and support at 23.6% fib level.

BANK NIFTY Chart update


  • Daily close above Ichimoku cloud and weekly close above 20 Week SMA suggest strength. Sustaining above these levels should give further up moves.
  • Fib level shows next resistance at 78.6% Fib level.
  • Monthly chart shows price testing 5 Month High EMA This one should be crossed for a bigger up move to unfold.