March 13, 2014

EURUSD Support and Resistance lines

  • First chart shows price falling from the resistance line
  • Second chart shows previous resistance zone which may act as support. Weakness in daily chart only if price starts to trade below this zone.

ES Support levels

  • ES 4 Hour chart shows support at 100 Period SMA and the 4 Hour cloud. These two levels and 23.6% Fib level must break for a bigger fall to happen. Sustaining above these levels will extend this up move.

Evening Star candlestick pattern of BHEL

  • Daily chart of BHEL Has an evening star candlestick pattern which will be effective only if price starts to trade below 182 levels. 
  • Weekly chart also shows strong resistance at 100 Week SMA.
  • Above bearish view will be invalidated if price closes the week above the cloud and 100 Week SMA. Bearish below 182. Bullish on closing above 193.