- Nifty daily chart with MACD indicator is showing a sell signal. If day low is taken out the selling might get intense.
- But hour chart with MACD is showing as if it will give a buy signal.
- So before one trade the hour chart they should have the daily signal in mind. So the buy signal in hour chart may come But one should look at the price range first which is 5453 - 5520. So buy signal might only get confirmed if 5520 gets broken on the upside.
- One who goes long based on hour chart should book profits at appropriate levels before the daily sell signal comes into effect.
- Moral: one should look at price first then Indicator
- Price has closed below 50 day moving average.
- Closing price is also below 5 Day Low Ema.
- If price continue to stay below these levels it will move towards the lower Bollinger band shown in weekly time frame.
- Bulls need to go back above 50 DMA.
- 5 DAY Low EMA is @ 5527
- 50 DMA is @ 5518
- S&P 500 ANALYSIS AFTER CLOSING BELL
- SPX Daily time frame shows a likely hit @ the 200 DMA if 1295 does not hold.
- If 1295 holds we may get an up move soon.
- Hour chart is looking weak as Hourly 200 Moving average is acting as resistance.
- 30 minutes char too looks bearish. As price is trending down below the cloud.
- Daily chart of EURUSD shows a bearish engulfing pattern.
- Price in hour chart is trading below the cloud. Indicating a sell on rise price action.
- Price is testing its 200 Hour moving average. Trend will completely turn bearish if price sustains below 200 Hour moving average.
- Staying above 1.4330 level may give an up move for the pair.
- Google Weekly chart with resistance line connecting the tops 747 and 642.
- Price has made a high of 627 and is not able to stay above this trend line.
- Bulls has to close the week above this trend line to continue the bullish momentum.
- Unable to cross the resistance line will result in a correction.
- Apple is testing its 50 hour moving average.
- Price has taken support at the cloud as shown in second chart.
- Hour chart is showing a GAP between 378 - 384
- So price may get attracted to this GAP.
- Larger correction will be possible only if price close below the cloud.
- Positive divergence on the left side did well.
- We have negative divergence now.
- Considering the larger trend of gold Positive divergence trades are safer to execute.
- If price stays below 1600 this one may give a correction to 1585 levels.
