- First chart is the daily chart of apple with 20 day moving average.
- Dips below 20 day moving average has been marked. Dips has not lasted too long.
- The effort of bears to sustain price below this moving average seems to be failing again. If price closes above 20 day moving average we will see yet another up move.
- Important levels for bulls to cross and close above is 348.50.
- Hour chart is filling a GAP if price closes above 50 hour moving average after filling the GAP things will favor bulls. Getting resisted at 50 hour moving average after filling the GAP may give a short trade in favor of bears.
- SPY RESISTANCE LEVELS
February 26, 2011
- Tata motors touches the trend line in weekly chart.
- Not only price touches the trend line it also touches the 200 day moving average.
- We can see some action in the coming days. Price breaking below 200 dma will give good short trade.
- For now 200 dma and the trend line has held. If price sustains above these important levels we may see good up move in the coming days.
- 15 minutes chart of spy with resistance lines
- Price closing above the blue resistance line will give 132.66 levels.
- 132.66 area can act as resistance. If price manages to break and sustain above 132.66 Next target is around 133.80 levels.
- For bears sustaining below the blue trend line can give a correction in their favor.
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