- Crude oil testing daily trend line from 77 levels.
- Price also is bouncing from Golden ratio.
- Moving above 50 week SMA shown in last chart may give a big up move for crude oil. Unable to close the week above 50 Week SMA may result in a bigger fall towards 84 levels in the coming weeks.
- S&P 500 ANALYSIS AFTER CLOSING BELL
-->
- SPX 30 Minutes chart shows price closing at the neck line of Inverted head and shoulders pattern. Chart also shows resistance at 1530 level.
- Daily chart shows a possible broadening pattern. Bears need price to fall below 50 Day SMA which may give good falls from this pattern.
- Weekly chart shows no sell signal yet. Indicator staying above 80% line will continue to favor bulls of spx.
30 MINUTES CHART
4 HOUR CHART
- First chart shows 30 Minutes time frame with the Ascending triangle.
- Second chart analyses the current up move in 4 Hour time frame. Two runaway GAP's and good up moves followed. But current pullback looks different. That doesn't mean Bulls are not going to get a breakout But chances of a false breakout is likely. Two unfilled GAP's in chart too will keep the bears interested.
- APPLE CHART UPDATE
-->
WEEKLY CHART
WEEKLY CHART
- Weekly chart with Fib levels shows a steady decline and price breaking 78.6% Fib level which may lead to a bigger fall.
- Price has broken 50 and 100 Week SMA which may lead to the next big target at 200 Week SMA which is near 360 levels.
- One Hour is falling from the head and shoulders pattern.
-->
- EURUSD 4 Hour chart shows price continue to make new lows.
- Oversold bounces are getting sold off near the Cloud. Price is unable to stay above 50 period SMA.
- So one can continue to look for selling opportunities at higher levels.
- QQQ Daily chart shows a broadening pattern. Bears need a close below 100 Day SMA for a bigger fall to start.
- GAP in daily chart is yet to fade completely which may attract price towards it.
- Weekly chart shows a possible head and shoulders pattern. Weekly chart will turn bearish only on trading below 65.85 level.
- S&P 500 ANALYSIS AFTER CLOSING BELL
-->
- Bank nifty weekly chart falling towards the up trend line. Indicators in weekly chart continue to favor bears.
- 2nd chart shows price approaching a crucial support level between 11125 - 11225. There is also 50 Week SMA just below this level. So breaking below this range will be crucial for bears. Getting support here may give chance for bulls to come back.
- As long as price stays below 100 SMA and daily cloud trend will favor bears.
