April 12, 2013
- Gold at weekly range support level.
- Week is showing a range between 1522 - 1800. Price testing the support zone of the weekly range.
- Bulls of Gold need a weekly candle with a long shadow which will indicate a short term bottom in place. Bears of Gold need the weekly candle to close below 1500 - 1520 level which will indicate a larger breakdown in Gold prices.
- IWM RESISTANCE LEVELS
- IWM Near daily resistance zone of 94.47 - 94.96.
- Daily chart shows an inverted hammer candlestick which is bearish and needs price follow up with selling to confirm the pattern.
- Last chart shows overbought readings But price yet to breakdown. Price must fall below the support line shown in the last chart
- Infosys has two unfilled gap's in daily chart
- Weekly chart shows price unable to break above the Golden ratio. Many breakout attempts have failed at this strong resistance level.
- Daily chart has managed to close above High EMA But weekly is still below 5 Week High EMA, Weekly MACD is also looking bearish.
- Bad news means price may move towards the previous result gap between 2379-2521. Good news may give a breakout above the Golden ratio.
- SBI CHART ANALYSIS
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