- Daily chart shows Golden ratio and resistance levels between 1760 - 1770 levels.
- Weekly chart too shows a channel resistance line between the above mentioned levels.
- Problem for bears of gold is that this weekly channel was violated many times in the recent times. So another channel break and a bigger up move cannot be ruled out.
- QQQ WEEKEND UPDATE
- Bidu has violated the triangle resistance line and closed outside the pattern.
- Price will face resistance at 200 Day SMA. If the stock sustains above 200 SMA then price will move towards 137 and higher levels can be seen as shown in the last chart.
- QQQ WEEKEND UPDATE
- SLW breaking above 200 SMA and unlike the last time price action is looking good for continuing the current up move above 200 SMA.
- Weekly line chart shows bullish price action out of a consolidation pattern.
- Last chart shows the possible resistance levels for next week.
- QQQ WEEKEND UPDATE
- QQQ Violates the Resistance line which was expected to give a correction in favor of bears.
- There is no Big volume increase during breakout. But It's a similar kind of breakout as the last one which is explained in the last chart.
- Month chart shows the January candle breaking the resistance line. January if closes above the resistance line we may see bulls extending the current up move with smaller corrections.
- Everything looks bullish here except for the Hanging Man at 200 SMA
- The Selling zone post showed recently may not work If the Hanging Man fails.
- Hanging man pattern is not a strong indicator It need a Gap Down a Lower close and High volume to confirm the bearishness of this pattern.
- Weekly line chart looks good for bulls. Bears shall hope that this is a false spike above the down trend line.
- BANK NIFTY WEEKEND UPDATE
- BANK NIFTY closed near the resistance levels in weekly chart.
- Price is also nearing 50 Week SMA and channel resistance line. 50 Week SMA is near 10100 for now.
- Daily chart shows two red candles near 200 SMA. But yet to close below short term moving averages. This up move has been a trend followers delight with close above 10 Day EMA Giving close to 1600 points till now.
- NIFTY WEEKEND UPDATE
- SPY Hour is testing 50 Hour SMA and cloud.
- Sustaining below 50 Hour SMA will favor bears for extending correction.
- If channel support line holds and price moves above 50 Hour SMA then bulls will be able to make an up move.
- GOOGLE AT 200 SMA
