- Apple staying above 200 SMA will favor bulls of apple.
- If price stays above the resistance line drawn in 2nd chart MACD indicator will give a buy signal soon which can take stock towards its 50 Day SMA.
- So longs are safe above 200 SMA.
- S&P 500 ANALYSIS AFTER CLOSING BELL
November 29, 2011
- If the recent low is not broken we might see this up move extending towards the resistance line of the channel. That is how price has behaved in this channel so far, so the cycle may get repeated again. But a word of caution for bulls is that price has not hit the channel bottom yet.
- If it is going to be a corrective up move dips will be opportunities to buy as long as price does not retrace too much. Price Closing above 5 Day High EMA and Week Low EMA will help bulls.
- S&P 500 EOD UPDATE
- Daily chart shows price taking support at the golden ratio.
- 50 SMA and the broken support levels may act as resistance levels. Closing above 50 Day SMA will strengthen bulls.
- Hour chart shows a possible IHNS pattern getting formed with neck line at 1198.50. Breakout can take SPX towards 1215-1220 resistance band.
- CRUDE OIL ANALYSIS
All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.