Daily chart closed below 20 SMA. Trading above 20 SMA can give a buy signal in daily chart which can extend this bounce.
MACD in weekly time frame is looking good for bears. MACD histogram is showing negative divergence. MACD lines have given a sell. Bears need price to close below 20 week SMA. Last weekly candle at 20 week SMA is looking good for a small bounce.
There is no big change in volume which is required for an engulfing pattern.
Weekly MACD is getting closer to a sell so for this engulfing to be effective follow up buying is required and a breakout above 68.55 will add strength for bulls.
Daily chart is shown with price above 20 and 50 day SMA. Price need to sustain above these two crucial moving averages
and above 68.55 to avoid a bearish cross.
A long trade looks likely in google daily if price stays above 20 and 50 day sma.
MACD of daily time frames is closer to a buy signal which should help bulls to target price towards the resistance line of a contracting triangle pattern.
