January 30, 2014

DOW Jones Reacting from support zone

  • Dow Jones 4 Hour chart shows price trying to stay above support zone at 15700 and 200 Period SMA.
  • Immediate resistance at 30 minutes cloud. Bulls may gain strength if price starts to trade above 30 Minutes cloud.

GOLD Weakness at 200 Day Simple Moving average

  • Gold extending its weakness at 200 Day SMA.
  • 4 Hour charts shows crucial levels in the rising support line and 200 Period SMA. If these two levels are not held a bigger fall is likely in gold.

ES Support and Resistance levels

  • ES One hour chart shows crucial resistance level at 100 Hour SMA.
  • 30 Minutes chart shows the broken support lines. Further fall on breaking the blue support line above which es is trading now.
  • Last chart shows the crucial support line in daily chart. Repeated attempts are being made to break below this line. If the attempts continue to fail a bigger bounce is possible.
  • BLACKBERRY Resistance Levels

Blackberry Resistance levels

  • Blackberry weekly chart shows price getting resisted at 38.2% Fib level and 50 Week SMA. Confluence of resistance stopping Blackberry bulls from moving up. Further strength only on price closing above these levels.
  • Bears of Blackberry need price to close below 9.47 with  MACD Bearish cross for a bigger correction to follow.

Descending channel of Reliance Communication

  • Reliance daily chart shows price falling in a descending channel. In a previous post we saw price near the resistance line which gave a good short trade.
  • Daily chart shows stock nearing a Death cross.
  • Bulls need support from 50 Week SMA for a possible bounce towards the channel resistance lines again.

SPY Analysis after closing bell

  • SPY Daily chart shows price testing the crucial 100 Day SMA and Ichimoku cloud
  • Weekly chart is near the rising support line from 134 levels.
  • If the levels are held an oversold bounce is likely here. Recent price action in weekly chart does favor bears But it needs to break the crucial up trend line to extend gains on the downside.

CRUDE Oil bullish pattern and Resistance levels

  • Crude oil one hour chart shows an ascending triangle pattern.
  • Price if continues to stay above 50 day sma may lead to 200 sma.
  • Price need to close above the falling resistance line shown in chart 2 for a bigger up move to happen.