Blog Posts - Golden Cross



Is this a good time to enter SBI stock? - a technical update

The previous technical update to the stock chart pattern of State Bank of India (posted on Apr 2013) contained a bearish view for the following two reasons:(1) formation of a head-and-shoulders reversal pattern with a downward target of 155 (adjusted...

S&P 500 and FTSE 100 charts (Aug 12 '16): bulls take total control

S&P 500 index chart patternThe daily bar chart pattern of S&P 500 consolidated within a narrow range during the week - touching a low of 2172 on Aug 10 and a new lifetime high of 2188 the following day.Though the index barely gained a po...

S&P 500 and FTSE 100 charts (Aug 05 '16): rise to lifetime highs

S&P 500 index chart patternThe daily bar chart pattern of S&P 500 broke downwards from the previous two weeks' consolidation zone to touch a low of 2148 on Aug 2, but bounced up after receiving good support from its rising 20 day EMA.Str...

S&P 500 and FTSE 100 index charts - Jul 08 '16

S&P 500 index chartThe daily bar chart pattern of S&P 500 soared on a better-than-expected employment report for June, rising above the 2130 level on Fri. Jul 8 before closing just below it. It was the highest level touched by...

Gold and Silver charts: surge ahead on BrExit tailwind

Gold chart patternThe daily bar chart pattern of Gold had formed a 'reversal day' bar on Jun 16 with good volume support. That had triggered a correction that found support from the rising 50 day EMA on Jun 23.The unexpected result of the BrExit...

BSE Sensex and NSE Nifty index charts – Jul 01, 2016

Nikkei India's manufacturing PMI (Purchase Manager's Index) rose to a 3-months high of 51.7 in Jun '16 against 50.7 in May '16, indicating an improvement in industrial activity. A number higher than 50 indicates growth.Most auto manufacturer's showed...

WTI and Brent Crude Oil charts: golden crosses technically confirm bull markets

WTI Crude Oil chartThe daily bar chart pattern of WTI Crude Oil continued its strong rally from the Feb '16 low of 26 - nearly doubling in price by touching an intraday high of 51.67 on Jun 9.However, oil's price formed  'reversal day' bar...

BSE Sensex and NSE Nifty index chart patterns – Jun 10, 2016

FIIs were net buyers of equity on all 5 days of the week. Their net buying totalled less than Rs 1500 Crores. DIIs were net sellers of equity worth Rs 925 Crores, as per provisional figures.Concerns about 'Brexit' led to a global sell off in equity m...

Nifty chart: a midweek update (Jun 08 '16)

A  delayed monsoon and an upside risk to CPI inflation were the probable reasons why the RBI Governor kept repo, reverse repo and CRR rates unchanged during yesterday's policy announcement.Though the move was widely anticipated by economists and...

BSE Sensex and NSE Nifty index chart patterns – Jun 03, 2016

FIIs were net buyers of equity worth more than Rs 2600 Crores during the week. DIIs were net sellers of equity worth nearly Rs 1300 Crores, as per provisional figures.Both Sensex and Nifty traded well above their respective down trend lines, which we...

Nifty chart: a midweek update (Jun 01 '16)

For the month of May 2016, FIIs were net sellers of equity worth less than Rs 200 Crores, as per provisional figures. DIIs were net buyers of equity worth an impressive Rs 7100 Crores. Nifty gained more than 300 points (about 4%) on a monthly closing...

BSE Sensex and NSE Nifty index chart patterns – May 27, 2016

During the past week, FIIs were net buyers of equity worth Rs 675 Crores, as per provisional figures. DIIs were also net buyers of equity worth more than Rs 1900 Crores - thanks to regular inflows into mutual funds.Shorts were badly trapped in F&...

WTI and Brent Crude Oil charts: an update

WTI Crude Oil chartThe daily bar chart pattern of WTI Crude Oil received good support from its rising 20 day EMA and rallied to a new high if 49.50 on Wed. May 18, but formed a 'reversal day' bar (higher high, lower close) and slipped down.Note...

Nifty chart: a midweek update (May 18 '16)

FIIs were net sellers of equity worth Rs 550 Crores during the first three days of this week. DIIs were net buyers of equity worth Rs 500 Crores, as per provisional figures.After 17 straight months of contraction, WPI inflation moved up to 0.34% in A...

WTI and Brent Crude Oil charts: bears spoil the bull party

WTI Crude Oil chartThe daily bar chart pattern of WTI Crude Oil seemed to defy fundamentals and technicals as it continued its rally - giving a huge 20 points (77%) gain in 3 months from the Feb '16 low of 26.Oil's price has traded above its 200...

Stock Index Chart Patterns: S&P 500 and FTSE 100 – Apr 22, 2016

S&P 500 index chartThe daily bar chart pattern of S&P 500 shows a continuation of the rally from the Feb '16 low. The index rose above its Dec '15 top but stopped just short of its Nov '15 top before correcting a bit.The periodic small c...

Gold and Silver charts: an update

Gold chart patternAfter touching an intra-day high of 1288 on Mar 11 '16 and gaining almost 250 points from its Dec '15 low, the daily bar chart pattern of Gold has been consolidating sideways within a 'symmetrical triangle' pattern.The rising 50 day...

Stock Index Chart Patterns: S&P 500 and FTSE 100 – Apr 15, 2016

S&P 500 index chartThe daily bar chart pattern of S&P 500 shows that bulls were able to overcome another attempt by bears to stall the sharp rally from the Feb '16 low.After a short pause in a sideways consolidation between 2040 and 2060...

Stock Index Chart Patterns: S&P 500 and FTSE 100 – Apr 08, 2016

S&P 500 index chartThe following comments appeared in last week's post on the daily bar chart pattern of S&P 500: "Daily technical indicators are in their overbought zones, and showing negative divergences by failing to touch new highs w...

Gold and Silver charts: bears strike back

Gold chart patternThe daily bar chart pattern of Gold had touched an intra-day high of 1288 on Mar 11 '16, but formed a 'reversal day' pattern (higher high, lower close) and entered a bearish pattern of 'lower tops and lower bottoms'. ...


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