- EURUSD Falling towards 50 Day SMA.
- Breaking below 50 SMA and 1.3096 will extend this fall
- Fibonacci levels shown in daily chart may act as important support levels if the fall extends.
- S&P 500 ANALYSIS AFTER CLOSING BELL
March 9, 2012
- Price has moved above the resistance line shown in the below chart. If 50 Hour SMA is held price may move towards the resistance levels mentioned in the above chart.
- Nifty has to trade above this resistance line or channel to continue this up move.
- Failing to breakout will lead nifty towards the morning GAP.
NIFTY WEEKLY CHART
- Nifty daily shows price at oversold levels and testing previous support resistance levels. So a bounce may Happen from 200 Day SMA. But weekly chart looks overbought and closed below 5 Week High EMA. If the bounce does not takeout 5 Week High EMA we may get a selling opportunity at higher levels.
- S&P 500 EOD ANALYSIS
- Long shadow of the weekly candle shows buying on dips. If bears doesn't get a bearish day tomorrow this week may close with new high's for bulls.
- Daily chart came back and closed above 20 SAM.
- Four hour chart shows price testing the cloud which gave support and the primary trend looks safe as of now.
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.