November 19, 2013

CRUDE Oil chart update

  • Crude oil daily chart falling in a channel
  • Weekly chart is near crucial support levels. Crude oil bulls must close above the channel resistance line to hint of a bottom or reversal.

TESLA Chart analysis

  • Daily chart shows next crucial level at 200 Day SMA.  Immediate support levels is the 50% Fib level shown in weekly chart at 113 levels. Breach of 113 levels on closing basis may result in a fall to the 200 Day SMA.
  • Strong MACD sell signal in weekly chart continue to drag price downwards.
  • ES Negative Divergence

ES Channel and Support levels

  • ES One hour chart shows price moving in a channel
  • Immediate support levels are 100 Hour SMA and 23.6% Fib levels. Closing below these levels may take price towards the support line of the channel.
  • ES Negative Divergence

FACEBOOK Descending Triangle

  • Facebook daily chart shows price near support line of a descending triangle. This pattern normally works well for bears. Price closing outside this pattern should give a good move for FB. For bulls need to close above 20 and 50 Day SMA. Below 45.26 price likely to test 20 Week SMA.
  • ES Negative Divergence

Bank Nifty Chart analysis

  • Daily chart shows price near 200 Day SMA. Last attempt to stay above this has failed.
  • Weekly chart shows support around 10900 levels. Sustaining above this level price may attempt the Golden ratio near the recent swing high.
  • Last chart of BN shows the weekly chart with the corrective up move for the fall from 13414 levels. If price fails to trade above the cloud the fall may resume.

ES Channel and Negative Divergence

  • ES 30 Minutes chart shows the steady up move of price in a channel. 30 Minutes cloud is acting  as support for the up move.  One hour chart is showing negative divergence with price and MACD. This setup need price to trade below 50 Hour SMA to work well.