- Priceline.com with it's weekly range breakout. Range is about 123 points so the target is above 670 levels.
- caution this stock already had a false breakdown from the same range. But week candle came back to close inside the range. So bulls of PCLN should close near high of the week for sustaining the momentum. Pullbacks should also be limited to 550 levels.
- WEEKLY MACD BUY SIGNAL OF PRICELINE
February 14, 2012
- Channel support line discussed below has been violated. Bigger fall may happen only if price stays below 3.7510 levels.
- Copper testing the channel support line. Price is below 100 Period sma. Bulls of copper need price to breakout above the dotted resistance line and 100 Period SMA. It would be safe to be long copper above 3.8653 levels.
- Bears need price to breakdown below the channel support line. Copper will be weak below 3.7840 and weaker below 3.7510 levels.
- RISING WEDGE OF SPX
- Nifty continues to be in a range. But indicators are showing weakness. Initial reaction out of the range may end up as a whipsaw. An upper breakout from the range should result in perfect negative divergence. Breakdown from the range should give good short entry but one should have proper stop loss if nifty decides to continue to original trend.
- RISING WEDGE OF SPX
- MCX COPPER CHART ANALYSIS
- MCX CRUDE OIL RISING SUPPORT LEVELS
- A Bearish rising wedge pattern in four hour time frame of SPX.
- Price is near the apex of the pattern and should give a breakdown or breakout soon.
- Rising wedges are mostly bearish patterns. If price breaks below the cloud as shown in second chart it should target 1270 levels initially.
- An upper breakout cannot be ruled. In many cases they end up as false breakouts or busted patterns.
- EURUSD ANALYSIS
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