- Daily chart shows a golden cross.
- Next chart shows Weekly candle trying to stay above a crucial trend line. Closing above this line will help bulls of BAC
- Weekly chart is testing a possible resistance level. For a possible long term trend change price has to sustain above the weekly ichimoku cloud.
- ES HOUR CHART ANALYSIS
March 15, 2012
- ES One hour sustaining above the cloud and 50 Hour SMA will favor bulls for a breakout above the shaded resistance level.
- Hour trading above the resistance line may give another 8 to 10 points on the upside.
- Weakness in hour time frame if price falls below 50 Hour SMA.
- S&P 500 ANALYSIS AFTER CLOSING BELL
- Reliance weekly chart shows price contraction which should result in good moves ones a breakout or breakdown happens.
- 5 Week High EMA and 50 Week SMA has been acting as resistance. These two should be taken out by bulls on closing basis for a sustained up move to happen. Unable to sustain above these levels may lead to a breakdown.
- S&P 500 EOD UPDATE
- SPX Weekly shown with 20 and 50 Week SMA bullish crossover which is doing well so far for the bulls. Weekly candle sustaining above 1370 will help bulls to extend gains.
- Daily chart shows a pause candle near resistance levels. Sideways move may continue before the next breakout. Hour chart also shows price in a bullish flag kind of pattern moving towards 20 Hour SMA.
- SILVER CHART ANALYSIS
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