- Dow Jones Bulls must stay above 13000 - 13040 levels.
- Bulls will gains strength above 200 Hour sma.
- breakout above 13130 may lead to recent high's.
- SILVER TRIANGLE PATTERN
April 18, 2012
- Nifty bulls are yet to cross the resistance line as shown in the last chart.
- Bulls need a daily close above the resistance line and 50 Day SMA.
- Yesterday the up move started near 50 Week SMA as shown in 2nd chart. Weekly upward momentum can be confirmed only on a close above 5 Week High EMA.
- First chart shows a make or break level in weekly chart. A bullish candle will save bulls from deeper falls. Break and close the week below this level will add strength to bears.
- S&P 500 EOD UPDATE
FOUR HOUR CHART
ONE HOUR CHART
- Daily chart having taken support near the cloud has come back to test 20 SMA again. Closing above 20 SMA will help bulls to continue the up trend again.
- Four hour chart shows price breaking out of the falling wedge like pattern. Price is testing 50 period SMA which shall be crossed for continuing this up move.
- One hour chart too is testing crucial levels like golden ratio and 200 Hour SMA.
- So to summarize price has closed near crucial resistance level which shall be crossed tomorrow or we will see another leg down from the current levels.
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