- Microsoft Weekly chart shows price near the resistance line of the triangle
- Indicators in daily chart shows overbought readings.
- Day closing below 26.61 will favor bears of MSFT.
- Risk reward ratio seems to favor a bearish trade unless msft decides to breakout of the weekly triangle pattern.
- GOLD BEARISH PRICE ACTION
October 18, 2011
- Support line of the descending triangle is acting as resistance.
- Stochastic is showing overbought readings in daily time frame.
- Price may move towards 50 or 20 SMA if stochastic triggers a sell. A bigger fall may happen only if price breaks below 50 and 20 SMA.
- S&P 500 ANALYSIS AFTER CLOSING BELL
- SPX Hour chart shows price falling below 20 and 50 Hour moving average.
- In daily we have a bearish engulfing pattern. Price ye to break below 20 and 50 Day SMA.
- Weekly chart shows price falling down from resistance levels.
- This fall will pickup speed once it stays below 20 and 50 DMA.
- AAPL NEGATIVE DIVERGENCE
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