- SPX Daily with MACD histogram shows negative divergence.
- Weekly chart shows a completely different picture with MACD about to give a buy signal.
- SPX Four hour line chart shows price at a resistance line. So for next week we might get a pullback because of the negative divergence and a breakout in favor of bulls because of the weekly MACD.
- Month chart shows price moving towards a possible resistance line. If macd buy works well price is likely to breakout above this resistance line to extend the up move.
July 28, 2012
- Daily chart with Ichimoku cloud shows price bouncing from the cloud.
- But the up move was stopped at 100 SMA and 5 Day High EMA.
- Weekly stochastic sell signal is still effective as price stays below 20 week SMA.
- Despite yesterday's bounce bears are looking strong.
- EURUSD RESISTANCE LEVELS