May 20, 2014

ES Chart update

  • ES one hour chart shows price getting resisted at Golden ratio.
  • Four hour resistance zone too has worked well for bears.
  • Possible support at 200 period SMA of four hour time frame.

ES Chart analysis

  • ES one hour chart shows resistance at golden ratio. Immediate support at 200 Hour SMA.
  • 4 hour chart shows price at a crucial resistance zone.
  • Break of the hourly levels may give a bigger move.

INFOSYS Death Cross and Support levels

  • Look at the confluence of resistance on the election result day, Price got resisted exactly at 50 and 200 Day SMA.
  • Price for now is testing the resistance zone of a previous weekly range. Bulls would hope that this zone turns as support for now.
  • Fib levels shows price at 50% Fib level. If this holds a bounce is possible. Weekly candle closing into the previous range will extend the fall of INFY.

SPY analysis after closing bell

  • SPY Daily chart shows price testing the resistance zone
  • 50 Day SMA and 38.2% Fib level acted as support to stop the correction.
  • Daily candles if shows no weakness new high's are possible.

SILVER Chart analysis

  • SILVER Daily chart shows price getting resisted at 50 Day sma.
  • 4 Hour chart shows price wanting to move up but shows weakness at resistance level. Silver chart is trying to put up an Ascending triangle like pattern.
  • Break below the One hour support levels may extend gains for silver bears.