- BAC Weekly chart shows weakness near 100 Week SMA
- Daily chart shows a bearish engulfing pattern. Daily MACD is closer to a sell signal which will be effective on price breaking below 20 Day SMA.
- Price sustaining above 20 Day SMA will continue to favor bulls.
- BEAR FLAG OF COCA COLA
September 22, 2012
- Nifty weekly chart has closed above the golden ratio. Intra week weakness was a trap and nifty bulls resumed the primary trend on the last day of the week.
- Second chart shows possible resistance lines for the coming weeks.
- 3rd chart shows the Power of weekly candlestick patterns. Bearish engulfing in weekly chart was followed by a down trending market. Now we are moving up after a weekly bullish engulfing pattern.
- Last chart shows possible resistance level in monthly chart in the form of Monthly upper Bollinger band.