- EUR/JPY Daily Chart is showing good support at 111.40 area.
- Resistance line seems to be strong as well. So price may spend some time before breaking out of this consolidation pattern.
October 20, 2010
- ES Having crossed resistance levels of 1173 and 1178 is looking good for 1182. If sustains above 1178 Price will try to cross 1182 which will favour bulls. Getting resisted and trading below 1178 will drag it lower.
- S&P 500 Futures resistance levels shown in 30 minutes chart.
- 1182 is the most important level for the bulls to break above.
- BAIDU HOUR CHART ANALYSIS
- Baidu is trading near its 50 hour moving average.
- Stock is also well supported by the trend line drawn below.
- If stock slips to the trend line it will be a good buying opportunity. Stock may also give a bounce from the 50 hour moving average
- Support at 6003 has broken
- Next support at 5960.
- Nifty Futures hour chart is showing a possible falling wedge which can reverse this corrective move.
- But for this to be an effective pattern NF should break the red line at 6002 and take support at the bottom line.
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