- Dell is looking weak near the resistance line of the triangle pattern.
- Stochastic indicator has reached overbought status.
- So for bulls of dell what is needed is a breakout above the resistance line or face a correction towards the support line of the triangle pattern.
- Crude oil Channel in daily chart is pausing near the resistance band of 102 - 104.60.
- Price is still above 200 and 20 Day Moving averages.
- Weakness in crude oil on closing the day below 20 Day SMA.
- MCX Crude oil chart below this post
- Nifty one hour chart shows smooth up move above 20 and 50 Hour SMA.
- For bulls price has to stay above 200 Hour SMA for extending this rally.
- Price is nearing the Golden ratio. This one too has to be taken out decisively by bulls for continuing this up move. Any weakness seen near golden ratio may give a good short trade.
- Reliance Bulls staying above 5 day high ema will favor an up move MACD is also looking good for bulls.
- 38.2% Fib level is acting as resistance now. If it is crossed then price may move towards 50 Day SMA.
- Bigger up move may happen only if price breaks and stays above 20 and 50 Day SMA.
- Stochastic in Weekly time frame is moving down So this up move will face hurdles at important resistance levels.
- Price is near resistance levels in weekly chart.
- Daily chart with RSI is showing negative divergence.
- So stock may turn in favor of bears from the current levels. Right now price is above 20 Day SMA. Once price closes below 20 SMA we may see good correction in GOOG.
- ES is moving towards 100 Hour SMA we might see a decisive move from this moving average.
- Violation of the support and resistance lines or the up trend line may trigger a big move.
- For bears the violation of cloud did not sustain. If price dips below the cloud again we may see good move in favor of bears.
- For bulls price shall breakout and sustain above the resistance line.
- S&P 500 ANALYSIS AFTER CLOSING BELL
- Another attempt to cross 200 SMA has failed.
- Hour charts has not lost momentum yet. Price is closer to crucial resistance levels and is staying above 50 and 200 Hour SMA's
