- First chart of Intel shows the bearish engulfing patterns in daily chart and the support the stock is getting from the 200 day moving average. This pattern needs confirmation and for big correction to happen price needs to break 200 DMA.
- Price has been hanging on to the 50 Day moving average for sometime now. Stock has shown negative price action again at 50 day moving average. Important support in daily chart is 20.27 and main resistance for this time frame is 21.42.
- Fibonacci levels in weekly chart is showing price getting stuck near 50% Fib level. Earlier price gave a bearish engulfing in weekly chart at the 61.% Retrace level.
- SILVER BEARISH ENGULFING
- DOW JONES RISING WEDGE
January 15, 2011
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