October 7, 2013

JP Morgan Chase Weekend update


  • Weekly chart of JPM shows a bearish possibility. Price is trading below the weekly up trend line. Sustaining below this line price is likely to face selling pressure at higher levels.
  • Immediate resistance levels are at 50 Day SMA and the daily cloud. Only a breakout above the daily cloud on closing basis may change the bearish Scenario for JPM.
  • US Dollar Weekly support line
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