- Silver hour chart with Fibonacci levels.
- Fibonacci levels for the fall from 30.750 to 28.010
- Price is finding resistance at 61.8% Fib level. Up move will be possible only if this levels is broken.
- Chart is showing support between 23.6 to 38.2% Fibonacci levels.
December 13, 2010
- Dow Jones has crossed 11390 and gave a breakout above 11430 area too.
- Sustaining above 11430 - 11450 can give 11500 in the short term.
- Dipping below 11430 and 11400 will be negative.
- Dow Jones Hour chart with support zone between 11330 - 11344.
- Resistance is near 11390 level.
- Price sustaining above 1390 can take dow jones to 11430 levels.
- Getting resisted at 11390 levels can be negative for the bulls.
- ES Hour chart with a rising wedge that has given an upside breakout.
- It's rare to see an upside breakout for this pattern. rising wedges are usually bearish patterns.
- Now if price crosses 1250 and sustains above that level ES may give 1270 in the short term.
- But trading below 1241 and 1238 will be negative because a false breakout of a rising wedge can give decent correction in favor of bears.
- QQQQ CHART ANALYSIS
- The main trend line in weekly chart from Feb 2009 was violated for sometime but price managed to comeback and close above it.
- Things may turn negative only if the support line drawn in the last chart gets violated.
- Last day of the previous week was a green day and the up move if continues can go till the resisting trend line in daily chart. any bigger up move will happen only if price manages to break the resistance line.
- Fibonacci levels drawn from main support of 5348 to the high of 6335 is showing support for price near 61.8%.
- STATE BANK OF INDIA CHART ANALYSIS