April 1, 2015

APPLE Triangle pattern

  • Apple 4 Hour chart shows a triangle pattern.
  • Price is testing 100 period SMA.
  • If 100 SMA holds an upper breakout is possible from the triangle pattern

CRUDE Oil moves up to 100 Day SMA

  • Crude oil 4 hour moving up from 50% retrace level.
  • Hour chart shows a falling wedge breakout targeting recent swing high.
  • Daily chart shows price near 100 Day SMA. Crude oil bulls need price to close above 100 Day SMA.

BIDU Death Cross and Weekly up trend line

  • Bidu daily has a Death cross But price is also testing the Weekly up trend line. Hint of the next direction may lie in the Range shown in the last chart. The range between 202 and 219. Bigger move is possible once this range gets resolved on closing basis.
  • close below 202 then 194 and lower levels are possible. Close above 219 stock may move above 240 levels again.

Nifty Chart analysis

  • Nifty testing its 100 SMA again. For now its showing weakness at this level.
  • 2nd chart shows price moving back into the broadening pattern after a breakdown. The low made during last week is crucial. Bears need this level (8269) to broke again for bigger downfalls to happen.
  • Weekly chart shows a possible inside candlestick formation. Previous high and low of the weekly candle is yet to break. closing outside this range may give good direction.

ES Chart update

  • ES 4 hour chart shows price falling towards Range support zone.
  • Although the daily candle looks Bad, This price action is happening within the range. So bears need a decisive close below the range and 200 SMA for bigger falls to happen. Otherwise range bound action is likely to continue.