February 28, 2014

TESLA in a Range

  • Tesla 30 Minutes chart shows price in a range. Price is testing the range support zone at 244.
  • Daily close below 244 will strengthen Tesla bears for targeting the GAP.
  • 5 Minutes  chart trading below the falling resistance line. Possible intraday bounce if price starts to trade above this line.
  • APPLE Chart analysis

CRUDE Oil chart analysis

  • Crude oil four hour chart shows price near the rising trend line and testing the 4 hour cloud.
  • Price also seen in a range. These rectangles in four hour time frame has given bullish breakouts so far.

APPLE Analysis before opening bell

  • Apple takes support at Golden ratio.
  • Price moves above 20 Day SMA. Immediate resistance levels at 38.2% Fib level and 100 Day SMA.
  • DOW Jones Analysis after closing bell

BANK Nifty Chart analysis

  • Bank Nifty near 50 day SMA.
  • Price also near previous support level (10780) and 38.2% Fib level.
  • Weekly candle is looking bullish, Bigger up move possible if price starts to trade above 20 Week SMA.

DOW Jones Analysis after closing bell

  • Dow Jones is trading near a crucial resistance line and 78.6% Fib level. For bears its crucial that price shows weakness here. Bears further need a close below 50 day SMA to confirm bearishness.
  • Price if continues to stay above 50 Day SMA will clear the above mentioned resistance zone and may take price towards newer High's.