- SPX has closed below 20 SMA Next in line is 50 SMA.
- There is a small support at 1215 level.
- Four hour chart shows the up trend line clearly violated. Break of the horizontal support line will turn the trend completely in favor of bears.
- Hour chart shows price at 200 Hour SMA.
- Support levels which are closer are unlikely to be held because of price momentum, It has to fall more. Breaking 1215 will lead to 50 SMA soon.
- COPPER TRIANGLE BREAKDOWN
- SPX Daily has closed above 200 SMA.
- Things can get better for bulls above 1292.
- Hourly chart too are not showing any weakness.
- Bears has to wait and see if any weakness is seen at 1292.
- Failing to break above 1292 may continue this range of 1215 - 1292 for some time.
- SPX has fallen below its 200 and 100 Day SMA.
- Price may retest 50 Day SMA.
- Fibonacci values also shows possible support between 38.2% amd 50%.
- Bears can extend gains if they manage to close below 50 Day SMA.
- SPX is near previous support level which may act as resistance.
- 50 Week moving average is near 1266 levels.
- Four hour time frame has started to diverge. No trend line break yet which might trigger a correction.
- So we may see a correction from 1260 - 1270 levels.
- CRUDE OIL ABOVE RESISTANCE LEVELS
- Month of SPX is trying to stay above 20 month SMA. Bulls will be comfortable to stay above 1200.
- Weekly candle is fighting with the resistance level 1219 - 1230. Closing above this level may take SPX towards 1250 level.
- Today's Move was resisted at 100 DAY SMA.
- It was also the top of Ichimoku cloud. So this area will act as a confluence of resistance. Closing above this level will add strength for this up move.
- SPX Hour chart shows price falling below 20 and 50 Hour moving average.
- In daily we have a bearish engulfing pattern. Price ye to break below 20 and 50 Day SMA.
- Weekly chart shows price falling down from resistance levels.
- This fall will pickup speed once it stays below 20 and 50 DMA.
- AAPL NEGATIVE DIVERGENCE
- Four hour chart shows price resistance near 1208 - 1210 levels.
- Daily closing looks good for bulls. Its a strong close above 50 Day SMA.
- Weekly chart too shows price about to enter stiff resistance zone between 1219 - 1227 provided price stays above 100 Week SMA.
- Last two attempts to stay above 20 day SMA has failed.
- Weekly chart is shown in important support level which is between 1100 - 1120.
- Price falling into this level may result in another bounce.
- For bears they need to break the support line shown in weekly chart.
- Monthly chart too shows Price taking support @ 50% Fibonacci level. So price is near a crucial support level right now.
- DESCENDING TRIANGLE OF ES
- 50 Day SMA is looking like a strong resistance level. Price reversed before approaching this moving average.
- Hour chart has closed above 50 Hour moving average. Chart looks overbought in hour time frame. if price slides below 50 hour moving average we may see a bigger fall.
- The way price violated and closed below 20 day moving average shows weakness at higher levels. Bullish strength will be visible only if price is able to close above 50 Day SMA.
- GOLD RESISTANCE LEVELS
- SILVER RESISTANCE LEVELS
- If bulls are able to sustain above 1164 they may be able to target 20 day moving average and 38.2% Fibonacci level.
- Immediate resistance is the 50 Hour moving average then in daily time frame a falling 50 day moving average will be tough to cross. Ichimoku cloud too looks strong in daily time frame.
- SILVER BOUNCED FROM 100 WEEK SMA
- Yesterday's shooting star formation was a warning for bulls.
- Bearish candlestick has given good reaction from 50 day moving average.
- Price has now closed below 20 day moving average.
- Price will now target the support line of this range. If that holds bulls may get an up move. otherwise it will be an extended down move this time.
- AAPL NEGATIVE DIVERGENCE
- Daily chart shows a bearish candlestick formation. Long tail shows selling pressure at higher levels.
- Correction started from near 50 Day Moving Average. For bears follow up selling needed to break SPX below 20 Day Moving average.
- Hour chart too looks negative, Price falling below 50 Hour moving average will extend this correction.
- GOLD SUPPORT AND RESISTANCE LEVELS
- SINA WEEKLY TRIANGLE PATTERN
- Price in daily chart continued the bullishness shown by yesterdays candlestick.
- Price also closed above 20 Day Moving average, It may target 50 SMA next.
- Possible resistances for SPX now are 50% and 61.8% Fib levels and 50 Day SMA.
- Price is also trying to close above 100 week moving average. Last four attempts to stay above this moving average has failed.
- BEARISH ENGULFING OF GOLD
- SILVER TESTING 50 SMA
- A combination of Fibonacci levels and Weekly resistance levels managed to stop the bulls for now.
- But i doubt if this one has the strength to break the recent lows.
- If price does not break the recent lows then as mentioned in the last chart a retrace towards the broken wedge support line is possible.
- Breaking below 1101 will negate such a possibility
- SPX CORRECTION FROM RESISTANCE LINE
CHART-II
- Price has broken the blue dotted line shown in the below chart. As of now it is looking good for bears.
- If price continue to stay below the resistance line it may target or reverse to the 50 period moving average of four hour time frame.
CHART-I
- SPX Four hour chart Hits the parallel line and is getting ready for a correction
- If price breaks the blue dotted line we may see a fall in SPX.
- For bulls price need to break above this pattern.
- ES - INTRADAY TRIANGLE PATTERN
