- MSFT Took support at the 50 Week SMA on Friday. But price continue to trade within the bearish weekly chart which will give shorting opportunities for bears.
- For now the stock continue to remain in a range between 28.32 - 31.14. For the coming week Friday's bounce may get extended towards the falling resistance line shown in first chart.
- SPX WEEKEND UPDATE
July 14, 2012
- Daily chart shows price moving up and RSI moving in a sideways channel which should favor bears But price sustaining above 50 Day SMA is giving support to bulls. Price on closing above 100 Day SMA should strengthen bulls further.
- Immediate resistance levels are the Golden ratio and 1370 - 1374 zone.
- Weekly chart shows price testing 20 Week SMA and MACD ready for a buy signal But Price sustaining below 20 Week SMA Should keep the MACD sell signal intact for a correction.
- FALLING WEDGE OF EURUSD
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