- S&P 500 hour chart with 50 hour moving average.
- An hourly close below this average may be the first sign of a trend reversal in hour chart.
- The moving average may give support for the index also.
- INTRADAY LIVE CHART FOR S&P 500
September 23, 2010
NIFTY DAILY CHART
NIFTY WEEKLY CHART
- Nifty is being cautioned by the candlestick pattern. Yes cautioned nothing else is shown on the screen that suggests we are close to the top of this bull run.
- May be a close below 5 day high ema can be considered as weakness.
- The weekly chart is yet to show weakness.
- LIVE INTRADAY CHART FOR NIFTY WITH EMA
- First chart is the hour chart which is still trading above 50 Hour moving average. So the trend in hour chart is still UP.
- second chart is daily time frame with 10 and 50 DMA. Index is trading above these two DMA. Index has not even violated the 10 DMA yet.
- Third chart shows the previous resistance area of 1129 which may become support now.
CLICK THE CHART TO ENLARGE
- EUR/USD pair break out of a rounding bottom formation.
- If the pair trades above 1.3266 it can target 1.37 and above that.
- Even the most convincing looking rounding bottom pattern can fail so have tight stop loss
- Stop loss at 1.3266.
- Index is again approaching the support line of the broadening pattern, If gets support here another rally favouring bulls can be expected
- Hour chart of S&P 500 futures has a broadening pattern.
- Since the price is trading around the support line of the broadening pattern we can expect an up move to happen from here.
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