- Microsoft daily line chart with 200 DMA.
- Stock will soon have an encounter with its 200 DMA.
- Stock is approaching its resistance zone of 26.28 - 26.90.
- 200 DMA is just above this resistance zone. We will know soon if the stock is going to break above into the bulls zone above 200 DMA or remain in the bear zone below 200 DMA.
- TRIANGLE OF DOW JONES
CHART-II
- Dow Jones takes support near the support line of the triangle.
- Price is approaching the apex of the pattern so we can expect a breakout soon.
CHART-I
- Dow Jones Hour chart with support and resistance lines.
- Chart is showing a triangle formation.
- Price approaching the bottom of the triangle. If price gets support here an up move is possible.
- Breakdown from the triangle will favour bears and may take price below 11000.
- If price gets support up move can last at least till 11140 were price may find resistance.
- SPX Hour chart trading in a channel.
- Index was moving in favour of the bulls but price has been dragged down toward the bottom of the channel.
- This may be an attempt to shake out the weak bulls and then another up move may happen from here.
- Unless the bottom trend line is broken bulls need not worry.
- USDJPY TAKING A U TURN
- USD/JPY after making a good come back seems to be going down again.
- 80.82 is an important support.
- Breaking 80.82 means revisiting the lows again.
DAILY CHART
- Dragonfly Doji in dow jones Futures chart.
- The appearance of this candle shows the strength of buyers and the candle shows the momentum of price. So this pattern can push the price higher to an extent wherever they occur. The success rate of this pattern is quite high.
- The shadow at the top is acceptable if it is small. The perfect dragonfly doji does not have the shadow at the top.
- Daily chart of nifty futures showing a clear top for the current up move.
- 5937 is the next important support for nifty futures.
