- Broadening formations give good swing trades.
- Next trade could be a high probability short with 200 period SMA and the resistance line as shown in the second chart.
- One hour chart shows 200 Hour SMA giving support. For bulls of silver this level should be protected. Falling below this level on closing basis should favor silver bears.
- ES Approaching possible resistance line in four hour chart.
- Daily chart is sustaining above crucial support levels like 100 Day SMA and Horizontal support line.
- Beast scenario for bears would be to get resisted at the resistance line shown in four hour chart and a fall below the support levels shown in daily chart.
- Bulls will be stronger on trading above the resistance line shown in the first chart.
- JPM RESISTANCE LEVELS
- JP Morgan daily and weekly charts struggling to cross crucial resistance levels.
- Daily and week chart has to sustain above its 50 period SMA to confirm a breakout. Sustaining below these levels will result in a down move. Breaking below 34.64 will extend the fall from 50 day sma.
- BANK OF AMERICA RESISTANCE LEVELS
- BAC at 100 Day SMA and weekly middle bollinger band.
- Crossing the above mentioned levels especially the 100 Day SMA on closing basis should push the stock towards golden ratio and more.
- Getting resisted at the current levels will be negative and price may fall back below 8 levels.
- SPY WEEKEND UPDATE
- Nifty weekly line chart suggests next crucial resistance level between 5360 - 5380 on weekly closing basis.
- Third chart shows price closing above the golden ratio and looking good to move towards the next fibonacci level.
- For bulls price should sustain above Middle bollinger band 5197 and the support resistance zone 5180 - 5200 to target for higher targets.
- India VIX weekly line chart is nearing crucial support level which may be able to stop bulls from bigger targets. For now price action favors bulls so stay long.
- CRUDE OIL WEEKEND UPDATE
