July 26, 2013

SILVER Channel

  • Silver testing channel support line.
  • Price unable to cross 50 Day SMA will favor bears of Silver.
  • Having resisted at 50 Day SMA price may do a channel breakdown to extend the current trend. 

CRUDE Oil channel and Bearish Cross

  • Crude oil one hour chart falling in a bearish channel.
  • Bearish cross shown earlier continues to do well.
  • Weekly chart is moving towards a possible bearish setup if closes here or lower.
  • Crude oil bulls need a channel breakout to negate the bearish setup.

AMAZON Chart analysis

  • Fibonacci levels and 20 Day SMA in daily chart shows crucial support zone for AMAZON between 295 - 299
  • Weekly chart looks overbought But needs price to fall and stay below 295 for a bigger correction to follow.
  • Strength only on price trading above 309 levels.

NIFTY Support levels

  • Daily chart testing 50 Day SMA and 38.2% Fib level.
  • 100 and 200 Day SMA is at 5860 and 5852 respectively.
  • So Nifty bulls must try to protect this level between 5850 - 5900 to avoid a bigger fall to happen

Baidu Resistance levels

  • The falling resistance and Golden ratio shown in weekly chart may act as resistance for BIDU in the short term.

GOOGLE Negative Divergence

  • Google daily has closed below 50 Day SMA.
  • Chart shows Immediate support at 875. On closing below 875 price may target 100 Day SMA.
  • Weekly chart shows big negative divergence Which should give a correction soon. Falling below 875 should lead to 850 levels and lower.
  • So strength above 50 Day SMA and Weakness below 875 levels.

CRUDE Oil chart analysis

  • First chart shows crucial support level for crude oil at 104.
  • Bearish cross in one hour chart will do well once price falls below 104 levels.
  • Strength again on price crossing above 200 Hour SMA.