- Weekly chart with MACD indicator shows a buy signal which will be effective if price breaks the range shown in the first chart.
- On breaking above 1422 the second chart comes into play were price will target the resistance line of a larger contracting pattern.
- Daily chart shows the support and resistance levels for the coming week. Sustaining above 78.6% would target 1406 and higher. Crucial support levels are the Golden ratio and 100 Day SMA.
- IWM WEEKEND UPDATE
- Daily chart has resistance at 100 Day SMA and falling resistance line.
- Weekly chart shows a contracting triangle pattern and Support at 50 Week SMA.
- Weekly stochastic has a sell signal which will be effective only if price trades below 50 Week SMA and 76.22 level.
- Daily chart will favor bulls above 100 Day SMA and falling resistance line. Crucial resistance at 81.84 level.
- QQQ Has moved above the crucial resistance level in daily chart.
- Price has also broke above the Golden ratio.
- A Daily close above above Golden ratio could take price towards 78.6% Fib level.
- Crude oil four hour chart shows a triangle breakout.
- Daily chart shows price above 100 SMA. Bulls need a daily close above this level. Next resistance is at 93.22 level.
- Price is also testing 50% fibonacci level.
- EURUSD Near resistance zone.
- Price is also testing 50 Day SMA and the falling resistance line.
- Bulls need a daily close above these levels for the bullishness to sustain.
- Failing to close above these levels could give another fall.
- ES Near falling resistance line, Crucial fibonacci level and horizontal resistance line.
- Above mentioned levels may stop bulls from bigger gains. But the rising support levels will keep the bulls interested.
- CRUDE OIL DESCENDING TRIANGLE
- Crude oil four hour chart shows a descending triangle pattern with support at 86.90.
- Break below 86.90 would find support at 50 Day SMA.
- A bigger breakout may happen only if the 100 SMA or 50 SMA gets broken on closing basis.
