- Dow Jones hour chart shows clear break of the channel.
- Support in hour chart is near 12530 level.
- Break of this level will turn the trend in favor of bears.
- SPY MAY DO AN ISLAND REVERSAL
Posted by San at 8:58 PM
- Despite today's GAP down price stays above the cloud.
- Trend will turn in favor of bears only if it stays below the cloud.
- SPY's CHANCE OF AN ISLAND REVERSAL
Posted by San at 7:30 PM
- If the GAP of yesterday and today stays like this without closing we may see an island reversal pattern.
Posted by San at 7:06 PM
- ES falls following bad jobs Report.
- Trend line in 4 hour chart is broken.
- Now the key level is 1326 - 1328 level.
- Breaking and sustaining below 1326 may turn the trend in favor of bears.
Posted by San at 6:37 PM
DARK CLOUD COVER
- Nifty has given a dark cloud cover pattern.
- Pattern is not perfect, today's candle could have started a little higher for a perfect dark cloud cover pattern.
- Still price action looks bearish. Yesterdays bullish candle is almost engulfed by bears.
- TRIANGLE PATTERN UPDATED. LOOK HOW IT ALSO LOOKS LIKE A SLOPING HEAD AND SHOULDERS PATTERN
Posted by San at 3:31 PM
- A triangle that worked perfectly after a long time. Look how it also looks like a sloping head and shoulders pattern which increased its bearishness
- Nifty 15 Minutes is trying to put up a triangle pattern.
- Breakout from this pattern may give good direction.
- One should also expect whipsaw's.
Posted by San at 2:11 PM
- Three important short term levels for nifty bulls to defend are 5705, The channel support line and the most important number at 5605.
Posted by San at 10:19 AM
- Nifty weekly chart shows a possible resistance area at 5750 on closing basis.
- Price is near 200 DMA.
- These are the next two resistance points. Good weekly closing above these levels will take nifty closer to that upper bollinger band shown in the 2nd chart.
- On the contrary getting resisted here and closing below 5700 will be slightly negative.
- DOW JONES EOD ANALYSIS
Posted by San at 9:01 AM
- Dow Jones 30 Minutes chart shows price moving up in a channel the smooth up trend yet to be challenged.
- Hour chart shows price trending up above shorter period moving averages and ichimoku cloud.
- Hour indicators have started to show negative divergences and weekly resistance is at 12875 level. In all likelihood price will test 12875 level and then start the correction.
Posted by San at 4:54 AM
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