- EURUSD has fallen below 50 Week SMA.
- Daily chart is nearing 200 Day SMA.
- For a bigger fall price has to close the week below 50 Week SMA otherwise the trend lines in daily chart may act as support.
- ES CHART UPDATE
September 26, 2012
- CRUDE Oil 4 Hour chart shows range breakdown.
- Daily chart shows price seeking support at 100 Day SMA. Bulls of CL need this level to be held for a possible up move. Breakdown below 100 SMA could lead to 86 - 87 levels.
- For a bigger breakdown Day has to close below the cloud which might trigger a bigger correction.
- SPX ANALYSIS AFTER CLOSE
- Reliance industries testing the falling resistance line of weekly chart.
- Bulls also need a weekly close above 100 Week SMA for moving above 900 levels.
- Price trying for a weekly cloud breakout which is also needed for a bigger up move.
- Unable to trade above these levels should resume the fall.
- BANK NIFTY CHART ANALYSIS
- First chart shows BN resistance near 11450. BN Bulls need a weekly close above this level for targeting the next level shown in the same chart.
- Golden ratio should be held on closing basis. Weekly close below 61.8% should result in a bigger correction.
- Daily chart is holding above 5 Day High EMA. Weakness only if day closes below 11307 level.s
- S&P 500 Daily chart falling towards the up trend lines and crucial moving averages.
- Weekly chart shows price falling back into the wedge pattern. Weekly close at the current levels or lower will be bad news for bulls. They should act soon to take price back above the resistance line of the wedge.
- APPLE CHART ANALYSIS
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