- Amazon weekly chart shows a bearish candle. Price falling back into the contraction pattern.
- Daily chart is testing previous resistance level near 264 which may act as support.
- Price near 50 Day SMA Crucial support of daily chart. Holding above these levels may lead to an up move. Daily close below 50 SMA will extend gains for Amazon bears.
February 1, 2013
- CITIGROUP Daily chart in a trading range.
- Crucial supports in daily chart are the unfilled gap and the rising 50 Day SMA.
- Weekly chart shows price above golden ratio. Sustaining above this level could lead to 78.6% Fib level. Weakness on trading below golden ratio which means price must also break below the GAP and 50 Day SMA Shown in second chart.
- SPX One hour chart shows weakness as price falls below 20 and 50 Hour SMA.
- Weakness in hour may move into the Daily time frame and price may test the rising support line or the 20 Day SMA as shown in the second chart.
- Last chart shows MACD in daily time frame getting ready for a bearish cross which will be effective if price starts to trade below 20 day SMA.
- US DOLLAR SUPPORT LEVELS
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