My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
May 21, 2013
CRUDE Oil chart analysis
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiTxcWoDpr8LdQ0R3atKp_364dnIcJ1NFAVRvQkuV6Y_FEKN86090rFkh_K-sQf7EyrtPgnlOR8v3FvQaQcf_Qkyrcij8Ww7vT_xPg73_GHDzlvBl5qJl-KUyGhiaRm-ep9EmJhpQl1DV1G/s640/crude+oil+daily+chart.png)
- 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.
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
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhZCAlkJpwEB3oku6IbK4GumDHngrcS2PL3vBVmM3p0Onz29Yiu6Ua6MvTZPKAz65Jg5UiI6jkouOJqEt7IxGw8g_lS3E_nr8wlR4q4z8ZNFS3Kt4upfezK-Ne_jzn9pxM-CpB0DZkgqnXa/s640/apple+resistance+line.png)
- 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.
- GOLD WEEKEND UPDATE
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