- First chart shows price contraction in weekly chart.
- Strong up move possible on closing above 10.66 and 200 Day SMA.
- Bears will be stronger below 9.71 and 50 Day SMA.
- GLD WEEKEND UPDATE
October 21, 2012
- Microsoft Weekly charts near crucial support levels. Price near 100 Week SMA and the support zone between 28.15 - 28.32.
- Weekly stochastic lines yet to reach oversold levels, If the previous low is not held price may slide further.
- For bulls the positive divergence in MACD Histogram has to work for a possible bounce. If the weekly support zone is not held this setup will not work.
- QQQ WEEKEND UPDATE
- 2nd Char the weekly time frame shows a MACD sell signal.
- If the weekly up trend line and 200 SMA does not hold the Weekly MACD sell signal will be effective and price may fall towards the support zone between 59 - 60 as shown shown in the second chart.
- Bulls must hope that price does not breach the support area and 200 SMA near 64.90 on closing basis.
- GLD WEEKEND UPDATE
- Daily chart shows crucial support levels at 50 Day SMA and 166.23. For extending the down move these two levels must break on closing basis.
- Weekly chart shows the broad range between 148 - 174. Price moving down from the top of the range. For a bigger fall the rising red colored support line must break which should also lead to a stochastic sell signal. Price not breaking below the red support line should give another up move.
- APPLE MONTHLY PIN BAR
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