July 29, 2013

APPLE Long term support levels

  • Apple weekly chart moving up from 200 Week SMA.
  • Month chart shows price taking support at 50% Fibonacci level for the up move from 78 to 705.
  • Monthly Stochastic indicator is at oversold levels which need price to stay above 385 and break above 469 levels for the up move to continue.

CRUDE Oil Support and Resistance levels

  • Crude oil One hour chart shows crucial support and resistance lines.
  • 2nd chart shows hourly cloud acting as stiff resistance.
  • Last chart is the daily time frame which shows price at 23.6% Fib level. Crude oil bears has to break and close below this level for a bigger down fall to happen.

WYNN Resorts chart analysis

  • Wynn Resorts in a contracting triangle pattern.
  • Crucial resistance at 50 Day SMA. Bulls need a daily close above 50 SMA and falling resistance line for a bigger up move to follow.
  • Possible breakdown on closing below 200 Day SMA.

SILVER Chart update

  • Silver near 50 Day SMA and near channel support line So this price contraction may soon get resolved.
  • Channel may get resolved soon for a bigger up move in silver.
  • For bulls need a strong breakout above the daily cloud for a bigger up move to follow. Bears need to stay below the channel to extend the current trend.

ES Chart analysis

  • ES Four hour chart shows price moving sideways.
  • Price is able to hold above crucial support levels and 4 Hour cloud.
  • Price in a range after an up move is mostly bullish. Strength on price sustaining above the cloud. Weakness on price trading below the 4 Hour cloud.

BANK Nifty chart analysis


  • The death cross in bank nifty continues to perform well.for bears. 
  • Price has closed below 50% Fib level which may open downsides till the Golden ratio.
  • There is a small positive divergence in chart which will be difficult to get right because of the strong down trend.
  • Strength for the day on trading above 10600 levels and weakness on breaking below last week's candle low.