December 5, 2012
- EURUSD Daily chart shows resistance zone between 1.3140 - 1.3168. EURUSD Bulls need a daily close above this zone for a possible up move.
- Weekly chart shows 38.2% Fib level stopping a bigger up move till now.
- Last chart shows price violating the falling resistance line from 1.49 levels. Weekly close above 38.2% Fib level should result in a bigger up move.
- Crucial resistance levels in daily chart are 50 and 200 Day SMA.
- Daily charts indicators are at overbought zone which will be effective if price starts to trade below 20 Day SMA.
- Weekly candle is testing 50 Week SMA. A weekly close below 50 Week SMA Should resume the fall.
- DOW JONES ANALYSIS AFTER CLOSE
- Bank Nifty Daily chart shows the range breakout target which comes to about 12365.
- Bank nifty already testing a resistance line which was discussed few weeks back
- For bulls price should sustain above the resistance line and 80% Fib level for a bigger up move to happen.
- BANK NIFTY LIVE CHART WITH AUTO REFRESH
- DOW JONES EOD ANALYSIS
- Dow Jones unable to move above previous support zone will favor bears. Bulls of Dow need a close above 12977 - 13038 zone and above 200 Day SMA for things to turnaround.
- 50 Day SMA falling towards 200 SMA is also negative for bulls.
- Possible breakdown again if price breaks below 20 Day SMA.
- COPPER TRIANGLE PATTERN
- Copper weekly chart shows price moving towards the resistance line of the triangle pattern.
- Daily chart shows price testing the daily cloud and resistance line. For bulls Price should breakout above the resistance line and cloud for a move towards the weekly resistance line.
- Price is expected to stay inside this weekly price contraction for one or two months before it breaks out of this big triangle pattern.
- SILVER TRIANGLE PATTERN
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