DAILY CHART
WEEKLY CHART
- Bulls of MSFT are facing 50 day moving average as resistance.
- Broken Trend line of Weekly chart may also act as resistance as shown in second chart.
- Upward momentum can continue only if price can sustain above 50 day moving average.
- Resistance level of Dow Jones:DOW CHART
- QQQ Hour chart is moving in a channel.
- Breakout or breakdown from the channel can give bigger moves.
- previous hour candle Having got resisted at the top of the range price is moving towards the bottom of the range.
- ES One hour chart is approaching resistance area.
- 1336.25 should be taken out by bulls on closing basis for bullishness to sustain. Price is likely to get resisted here.
- Yesterday's Dip was bought exactly at the 200 hour moving average and Bulls steadily started moving up and has reached the top of the range now.
- Since price is near support or resistance line we will get a good move soon.
- Dow is near an important resistance level: CLICK HERE TO SEE THE CHART
- 5 Minutes may turn bullish only above 61.8% Fib level.
- Till that level is crossed NF will face selling pressure.
- Flag in 5 minutes also favor bears till now. Only an upper breakout from this flag pattern can save the intraday bull
- Nifty futures is showing a Descending channel.
- Price action is favoring bears in shorter time frame charts.
- For bulls to pickup momentum NF should close above 5920 - 5930 level again.
- Weekly charts are keeping options open for both bulls and bears.
- Things may get resolved with today's closing. at least i am hoping it gets resolved because sideways market does not give much profit.
- MACD in weekly chart will give hope for the bulls.
- A bearish looking candle is developing on the resistance line which is keeping the bears interested.
- Nifty has maintained its position above 5 day EMA till now. Closing below this moving average and 5830 level will favor bears.
- Breaking above the recent high will favor bulls and then the weekly MACD will show its effect.
- A possible resistance level for DOW JONES
- Dow Jones is trading near an important resistance level.
- Bigger up moves for Dow might happen only on clearing 78.6% level.
- But for now if price hits 78.6% level we may see good correction in Dow Jones.
