Gann Reversal Dates



Dow Jones Industrial Average:


Dow Jones EOD Chart
Dow Jones Industrial Average did behave exactly as was predicted in our earlier post. A sharp fall from the 16th trading day counted from the 11th of April, 2012 fell on the 3rd of May, 2012 which is from when the index starting losing heavily. Our Gann studies predict that the index may reverse within the period from 15th of May, 2012 to 18th of May, 2012 or near 14 trading days counted from the 3rd of May, 2012. The Dow has already fallen below the L4 Camarilla Levels and is in for a bearish L4 - L5 move. Wolfe wave patterns are not seen on the charts and our proprietary signal is also a sell.

Dow Jones 15 Min ChartIntraday Dow Jones Charts have also maintained a bearish stance. With the last week mostly remaining volatile, 15 minute charts for the index suggest minor positive moves. With the larger EOD picture in view, it is difficult for the American index to make serious gains. 
Wolfe wave patterns are not observed on the intraday charts as well and the index has just faced some resistance at the L3 Camarilla level. We should be expecting further downfall in the next few trading sessions until the Gann reversal date is arrived at.

EURUSD:


EURUSD EOD ChartThe EURUSD EOD Charts show that the forex pair has been bearish throughout the last week. The Fiber is expected to remain week for a few more sessions until the Gann reversal date is arrived at. The reversal date  may occur near the 13th of May, 2012 or near 13 trading days counted from the 2nd of May, 2012. Wolfe wave patterns are not seen on the charts. Our proprietary indicator has been showing a sell signal throughout. Hence, traders may remain short till the reversal date as mentioned above. As far as Camarilla Levels are concerned, the pair is into a L4 - L5 move and is expected to touch the L5 level of 1.2846 soon.


Gold:


Gold EOD ChartGold, the yellow metal, has been a bit weak for the last few sessions. Gann studies suggest that the current bearish move may reverse towards the end of May, 2012 or near 24 trading days counted from the 4th of May, 2012. Howver, minor reversal dates also exist near the 15th of May, 2012. Wolfe Waves are not seen on the EOD charts and our indicator also indicates a sell. The metal is close to the L4 resistance level, which if penetrated may take Gold further to a further low near the L5 level as indicated by the lowest blue horizontal line on the right side of the chart.



S&P CNX Nifty:


Nifty 15 Min ChartThe S&P CNX Nifty has been into a bearish trend since a long time. It has also fallen below the monthly L5 level which is a heavily bearish signal for any ticker. The index is expected to remain bearish as it is under the influence of a sell signal on the charts. Wolfe Waves are also not to be seen. Gann studies suggest several reversal dates which are as follows. 20th/21st May, 2012, 24th to 28th May, 2012 or 57, 76, 82, 89 trading days counted from the 22nd of February, 2012. There are reversal dates which lie further, but for the time being, these dates are important.

Nifty Daily ChartAs predicted, intraday charts did also benefit those who were short on the index following the break below the 1 - 3 Wolfe Wave line. The charts still remain under a sell signal and no new Wolfe Waves have been formed as yet. The index is standing at the L3 support line for the week which may be broken keeping in view the bearish EOD trend.





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