October 23, 2012
- EURUSD Daily chart near up trend line and 50 Day SMA.
- Daily chart also shows a bullish golden cross.
- Bullish cross will become weak if price falls below 50 Day SMA and a whipsaw cross if price falls below 200 SMA. For now Bulls of EURUSD need price to hold above 50 SMA for the Golden cross to work well.
- APPLE Day managed to close above 100 Day SMA.
- But price is yet to test crucial resistance levels. Sustaining below the daily cloud will favor apple bears.
- Falling resistance line and 100 Hour SMA of one hour time frame too has to be captured by bulls for a bigger up move.
- ES SUPPORT LINES
- LT Daily chart shows ascending triangle breakout with volume advance.
- If the breakout sustains price could be heading towards 1723 and higher levels in the short term.
- Weekly chart also should hold above 1657 for confirming a breakout otherwise a false pattern is possible. Bulls are safe above this level.
- S&P 500 ANALYSIS AFTER CLOSE
- SPX Charts shows price bouncing from the 1422 level. Bears need a daily and weekly close below this zone for a bigger down move.
- Daily chart candle looks bullish with large lower shadow. Price closed at 50 Day SMA. Bulls need price to sustain above this line for sustaining the bounce.
- Hour and 15 Minutes shows possible resistances for this up move.
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