- Dow Jones 15 Minutes chart.
- Previous support of 12540 is acting as resistance for today.
- Intraday support is @ 12470 level.
- So this range has to be resolved for a bigger move to happen.
- ASCENDING TRIANGLE OF US DOLLAR
My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
July 12, 2011
DOW JONES Intraday Post
US Dollar Ascending Triangle update
CHART-II(UPDATED)
CHART-I
- US Dollar is testing the resistance area of 76.60 level.
- Price is not able to stay above this level.
- Sustaining above this level means breakout from an ascending triangle pattern which will favor bulls of dollar in the medium term.
- Ascending triangle of USDollar was shown in this post
ES Resistance level for the Bounce
- ES briefly fell below 1300 But now back above it.
- For the current bounce 1330 level may act as resistance.
- Fibonacci levels in hour chart too shows resistance near 1332 level.
- So if price goes back to 1330 - 1333 band it will be tough to cross at least on the first attempt.
- S&P 500 ANALYSIS AFTER CLOSING BELL
Nifty intraday bounce
CHART-II
- As expected the bounce did not last long.
- Got resisted before reaching 5550 level.
CHART-II
- Nifty will face resistance near 5545 - 5550 level.
NIFTY Trending down below the cloud
- Nifty 15 Minutes chart with ichimoku cloud.
- Price after giving a triangle breakdown has not touched the cloud even once.
- So in shorter time frame charts its trending down in favor of bears.
- Today's GAP is also crucial if that is not faded soon things will continue to favor bears.
NIFTY Daily chart analysis
- Nifty may break 5600 today morning because of the global markets.
- Fib levels shows 5531 as the next support level.
- Bearish candlestick of Friday is being supported with follow up selling.
- Closing below 5 day low ema will make bears more powerful.
- If the GAP is large we might see a bounce to partially fill the GAP.
- S&P 500 EOD ANALYSIS
S&P 500 Analysis after closing bell
- Price has fallen below the cloud in daily time frame which is negative.
- More Steep falls might occur if 38.2% and 50 day moving average gets broken.
SPY Trend Update
- Fibonacci levels shows the break of 38.2% Fib level. If price sustains below this level this will lead to at least 50% retrace. Price moving back above 38.2% may give an intraday up move.
- 30 Minutes time frame shows price falling below the cloud and 50 Period moving averages. Any rise from here towards the cloud will face selling pressure.
- SPY MOVES AWAY FROM THE ISLAND
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