June 18, 2013

ES Chart analysis

  • ES One hour chart shows price in a big Ascending triangle pattern.
  • four hour chart shows price testing 50% Fib level.
  • One hour with Ichimoku cloud shows price getting support at the cloud during falls. Weakness in this time frame only if price starts to trade below the cloud.

NIFTY Chart analysis

  • Daily chart moves back above 200 Day SMA.
  • Immediate resistance levels in daily chart at 100 Day SMA and 38.2% fib level.
  • Weekly chart shows price testing 20 Week SMA. Sustaining above 20 Week SMA may target the falling 5 Week High EMA.

S&P 500 Analysis after closing bell

  • SPX Getting resisted at 20 Day SMA again.
  • Hour chart shows price showing weakness near 50% Fib level.
  • Hour chart for now is moving like an ascending triangle pattern. Support levels are getting higher, if this continues a breakout is possible. Weakness below 1630 Strength on closing above 1648.

CRUDE Oil testing golden ratio

  • Crude oil weekly chart shows price testing Golden ratio. This level has acted as stiff resistance level in the recent past. Many up moves have finished at this level in the recent past. 
  • Daily chart shows price breakout from an inverted head and shoulders pattern. If the Golden ratio is to work then the breakout from IHNS would be a false one. Price falling below the hourly cloud means weakness.