- Bearish weekly candle has give a correction. But a bigger fall will be possible only if the up trend line gets broken.
- MACD indicator in daily time frame has given a sell Now price has to sustain below 20 Day SMA and the up trend line for a bigger fall to happen.
- For bulls of Google price has to move above 20 Day SMA for a possible test of the resistance line shown in daily chart.
- S&P 500 WEEKEND UPDATE
April 8, 2012
- First chart is the weekly time frame which shows 1370 which was the previous resistance level which may act as support.
- Weekly MACD shows a sell signal in the making. on the left of the chart note how price went into a range after a sell signal followed by a big fall. for now price may give one more rally from 1370 levels before the big sell signal.
- Price has fallen below 20 Day SMA. It should be difficult for bears to break below 50 Day SMA and 1370 levels.
- SILVER WEEKLY UPDATE