Stock Market Chart Analysis

February 18, 2013

Microsoft weekly chart shows previous low acting as resistance.
Daily chart shows price resistance at Daily cloud top and 38.2% Fib level.
Confluence of resistance stopping bulls from moving up. Only a weekly close above these levels can add momentum for bulls. Weakness here may lead to a fall towards 27.0 again.
APPLE WEEKEND UPDATE

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EURUSD 4 Hour chart shows a falling wedge pattern.
For bullish trades on EURUSD Price must sustain above 50 Day SMA.
Immediate resistance levels for the pullback is shown in the last chart fib levels.
GLD WEEKEND UPDATE

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Middle bollinger band, 100 Week SMA and 50% Fib level are immediate support levels for nifty. If nifty takes support here a bounce towards 5970 levels looks likely to happen. Correction from there may give a Head and Shoulders pattern in nifty.

First chart shows price testing crucial support level.
Support zone in daily chart is also near 23.6% Fib level.
If the recent price action in daily chart is to repeat we may see a bigger correction in crude oil. For bears of crude oil need a close below 50 Day SMA for the above mentioned scenario to play out.
EURUSD WEEKEND UPDATE

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DAILY CHART

4 HOUR CHART

DAILY CHART

EURUSD Daily chart shows price testing 50 Day SMA.
Second chart is the 4 Hour time frame with price approaching a previous range and Golden Ratio.
Rising up trend lines in daily chart too may act as support for the coming week.
GLD WEEKEND UPDATE
APPLE WEEKEND UPDATE

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SLV Daily chart shows price below the crucial 50 and 200 Day SMA and testing crucial swing lows.
Weekly chart with fib level shows price testing Golden ratio. Last fall to the G Ratio was followed by an up move. This time price is likely to break the support level.
Rising support line shown in weekly chart may stop a bigger correction from happening.
GLD WEEKEND UPDATE

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