Crude strongly resisted near 200 day Weekly EMA. After Resisting near 74$ it shows strong move towards
$68 and showing negative divergence pattern in daily charts.
By Applying 13,34,55 EMA Principle we could find that crude is trade below all the three major EMA zone
13 EMA – 69.98
34 EMA – 69.54
55 EMA – 68.14
So $68-70 could be a possible resistance band. If any immediate reversal to take place then possibly
this zone will act as a immediate resistance zone
Related Readings and Observations
Nifty and Bank Nifty 90 min charts for 11 Jan 2012 Trading Nifty and Bank Nifty is in buy mode on the 90 min charts since 4th jan 2012. currently supports for both nifty and bank nifty comes near to 4746 and 8443 respectively.
Aban Offshore and Positve momentum Divergence
CMP : Rs 473Aban Offshore 5 day 1minute charts shows that a positive divergence formationpossibly would end in breakout in short termSource:
www.marketcalls.in
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