- Russel 2000 Four hour chart.
- Price has gone above resistance level of 855. After breakout price is retesting this level.
- Price sustaining above 855 will be bullish for Russel 2000.
- Range from which the breakout happened was about 40 points. Weekly close above 855 may take Russel 2000 to 890 and above in the short term.
- Price sustaining below 855 will favor bears.
April 28, 2011
- AMAZON Daily chart has given a breakout.
- Volume has also spiked above the daily average volume.
- Week chart was trading in a range of 160 - 190.
- Price has violated this range. If Week closes and sustains above 190 Amazon will TARGET 215 and above in the coming weeks.
- Price falling below 190 will be negative for the bulls.
- SLV CHART ANALYSIS
- Reliance has broken the important support at 1000. This number was between 50 and 200 day moving averages which makes it more important.
- As shown in the 2nd chart Break below and above 20 DMA has given nice trending moves recently. so this should work again But have the trailing stop in place.
- We discussed about selling the stochastic in weekly chart, This has worked and the profits for bears might extend if price sustains below 1000 level.
- RLEIANCE SELL THE STOCHASTIC
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