My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
May 1, 2013
GOLD Chart update
- Gold 4 hour chart shows price correction from the corrective channel.
- One hour chart shows price testing 200 Hour SMA. Price sustaining below this level will further strengthen gold bears.
- Last chart shows daily chart with previous support line acting as resistance. Hope for bulls only if price is able to takeout this line which looks a tough ask in the short term.
- GOLD TRIANGLE BREAKDOWN
CRUDE Oil chart update
- Crude oil testing 200 Hour SMA. Hourly close below this level may weaken crude oil bulls further.
- For Crude oil bulls there is hope in Four hour Ichimoku cloud and crucial Fib levels for a bounce.
- For an extended fall price must break the cloud shown in 4 Hour time frame.
- GOLD TRIANGLE BREAKDOWN
ES Support and Resistance lines
- ES continue to sustain above the Hourly trend line. Price did violate the trend line briefly but hour was unable to close below this crucial support level.
- 30 Minutes chart shows price contraction between support and resistance lines.
- For a decisive down move price must trade below 100 Hour SMA shown in the last chart.
- BLACKBERRY CHART ANALYSIS
GOLD Triangle pattern
UPDATED CHART
- Triangle shown below has given a breakdown.
- The corrective up move shown in the last chart seems to have finished. Next support near 1435 - 1445 if not held price may retest the lows.
- Gold one hour shows a triangle shaped contraction. False moves are possible from the pattern.
- Price sustaining above 100 Hour SMA should give an upper breakout. Hourly close below this level will weaken the up trend of this time frame.
- 4 Hour chart continues to look like a corrective up move.
- GOLD WEEKLY CHART UPDATE
APPLE Chart update
- Apple managed to close above 50 Day SMA with a bullish candle.
- Price is testing daily ichimoku cloud which has acted as stiff resistance so far. But for now daily candle is yet to show any weakness.
- If the cloud does not stop the bulls price is likely to extend this up move towards 100 Day SMA as its initial target.
- BLACKBERRY CHART ANALYSIS
FACEBOOK Chart update
- Facebook trading above the falling resistance line of 4 Hour time frame. Closing near day High may extend gains towards 28 and above.
- Price is testing 100 Day SMA. FB bulls need a close above this line to extend the up move.
- Last chart shows price trying to close above 38.2% Fib level. Closing above it may extend gains towards 50% Fib level and above in the short term.
- BLACKBERRY CHART ANALYSIS
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