June 2, 2014
- Friday's up move from the lows was good for bulls as price managed to get back above 38.2% Fib level. In spite of that up move nifty Weekly chart shows a bearish engulfing pattern.
- Immediate weakness if price falls back below 38.2% Fib level again.
- Bigger fall only if last week low and 20 Day SMA is taken out on closing basis.
- EBAY is getting rejected at the broken 100 Week SMA. Bulls of EBAY Must do a weekly close above this level for an up move to happen.
- 2nd and 3rd chart shows price getting support near the support zone of the weekly range. For bears these levels must break on closing basis for a bigger fall to happen.