January 2, 2014

CRUDE Oil testing crucial support levels

  • Crude oil daily chart shows price testing crucial support zone between 95.36 - 96.26
  • Daily chart shows price testing 50 Day SMA. Breaking this line on closing basis will do more damage for Crude oil bulls.
  • Last chart shows price testing 50% Fib level and near Golden ratio.
  • EURUSD Bearish Price ACtion

EURUSD Bearish Price action

  • EURUSD Daily chart shows price violating crucial support line.
  • Price nearing 50 Day SMA. eurusd bears need a close below 50 Day SMA for a bigger fall to happen.
  • Monthly chart is also pausing at the falling resistance line. Negative candle here would confirm bearishness in Monthly chart.

DLF Ascending Triangle and Resistance levels

  • DLF Weekly chart shows a big Ascending triangle formation. But the resistance levels of the Ascending triangle between 173 - 175 has acted as strong support in the past as shown in chart 2. So bulls need a strong breakout and and weekly close above 175 levels to confirm breakout. 
  • For now though a Down Swing is happening in daily chart which may last till the up trend line. If the rising support line is held another test of 173 - 175 levels is likely to happen
  • BHARTI AIRTEL Chart Analysis