May 21, 2013

GOOGLE Rnage and Support levels

  • Google hourly range support is getting tested.
  • 30 Minutes chart shown with 100 period SMA and Ichimoku cloud. Price closing below these levels may give a bigger fall google bears.

CRUDE Oil chart analysis

  • Crude oil four hour chart looks like an ascending triangle.
  • Hour chart is trading above 50 Hour SMA. Crude oil bears need an hourly close below 50 Hour SMA and the up trend line shown in four hour chart for a breakdown to happen.
  • Daily and Four hour chart also shows price testing crucial resistance lines. 

ES Chart analysis

  • ES Hourly chart trading above crucial support level. Support level of 1558 - 1660 is above 100 Hour moving average and Hourly ichimoku cloud. So weakness in hour chart only if bears manage to trade below the the hourly cloud on closing basis.

NIFTY Engulfing, Divergence and Support levels

  • Nifty daily chart managed to form  a bearish engulfing pattern. Price closed below 5 day High EMA and for bears there is also a negative divergence between price and RSI. 
  • For bulls though the up trend is still intact and the current price action is happening above crucial support levels. Supports shown in chart 2 are crucial for bears to make price week should close below 6000 levels. Sustaining above these levels will favor bulls to extend the rally.

APPLE Chart analysis

  • Apple Hourly time frames at crucial levels.
  • Price has to sustain above 50 Hour SMA and 30 Minutes cloud for the up move to extend.
  • Falling back into the cloud will be negative. Positive on moving above 444 levels.