- Microsoft is pausing near previous top which is 28.13
- Bulls need a weekly close above 28.13 level for targeting the next resistance which is 29.44.
- A bearish candle at the current levels will favor bears in the short term for a possible pull back.
- GOOGLE FALLS TO 50 DAY SMA
- Google Weekly chart falls to 50 Day SMA.
- MACD has given a sell signal.
- Daily candle closing below 50 SMA will extend correction.
- Weekly chart is falling after a shooting star pattern.
- Week closing below 619 will be bearish and correction may extend towards middle bollinger band.
- S&P 500 ANALYSIS AFTER CLOSING BELL
- CRUDE OIL PAUSES AT GOLDEN RATIO
- First chart is the weekly chart of crude oil with fibonacci levels for the fall from 147 to 33 levels. price is getting resisted at golden ratio. For bulls price need to close the week above this level and trade above 105 for this up move to continue.
- 2nd chart is the daily time frame with 50 Day SMA and the trend line which are important supports for the short term. Trading below these levels will be bearish for crude oil.
- S&P 500 ANALYSIS AFTER CLOSING BELL
- Price has given a breakout But need to sustain above 50 Day SMA.
- Price testing 50 SMA and closing above it will favor bulls. If today's close is below 50 SMA and above 4800 It still favor bulls. Problem for bulls is if price falls back into the range again from which it gave a breakout.
- Price has also closed 5 Day High EMA. So if levels like 4800 or 5 Day high EMA is protected on closing basis Bulls may try to extend this up move towards Ichimoku cloud or 20 Week SMA in the coming day's.
- COPPER TESTING TRIANGLE RESISTANCE
- S&P 500 EOD ANALYSIS
- Upward momentum in hourly chart will be safe as long as price sustains above 50 Hour SMA and 1284 levels. If price falls below these levels then it will be a struggle for bulls.
- Weekly chart shows price struggling near previous weekly top level at 1292. Price should sustain above this level for making progress or to avoid a double top kind of correction.
- Daily chart shows an ascending triangle pattern that can take spx above 1350 levels provided it sustains above 1292 level.
- Important support in daily chart is between 1266 - 1270 level.
- CRUDE OIL TESTING RESISTANCE BAND
