April 16, 2014

AMAZON Trend Analysis

  • Amazon weekly chart shows price at the rising support line.
  • Weekly stochastic looks oversold. But price yet to confirm a reversal candle.
  • Hour chart continues to favor bears as it trades below the cloud. for bulls of amazon price need to stay above the hourly cloud.

GOLD Bearish flag

  • GOLD One hour chart shows  a bearish flag pattern.
  • Price sustaining below 200 Hour SMA and cloud will favor gold bears. 

BANK Nifty chart update

  • Bank nifty daily chart falls below 5 Day Low EMA after a long gap.
  • MACD Lines in daily time frame looks weak But price needs to stay below 20 day SMA For this setup to work well for bears.