- Hour up trend is not yet changed.
- Price falling below the trend line and 50 Hour SMA will be warning signs for bulls.
- Price sustaining below the cloud may lead to a sell off.
- GOLD DAILY CHART ANALYSIS
October 25, 2011
- ES Daily chart shows price getting resisted near previous support area. Daily candles are not able to close above this line.
- For bulls price has to close the day above this level for continuing the up move which is going to be tough for bulls.
- Four hour chart shows the up trend line and Horizontal support line which are important for bulls to hold.
- CRUDE OIL BREAKOUT
- SPX is near previous support level which may act as resistance.
- 50 Week moving average is near 1266 levels.
- Four hour time frame has started to diverge. No trend line break yet which might trigger a correction.
- So we may see a correction from 1260 - 1270 levels.
- CRUDE OIL ABOVE RESISTANCE LEVELS
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