- First chart shows Price testing the resistance line. Price closing above this line could extend the up move for bulls. But Second chart is showing negative divergence with RSI. Price is making a higher high while the Indicator is making a Lower high. Now although the Divergence looks nice here it can easily fail by giving a shallow correction and extending the up move. So one has to wait to see real weakness for the divergence to take effect.
- If the divergence does not work price could move towards the next resistance level at 6181. Crucial support is seen at 5944.
- NIFTY 50 STOCKS FREE LIVE CHARTS
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- IBM Daily chart in a triangle pattern which should give about 14 points on breakout or breakdown.
- Immediate resistance level in daily chart is the 100 Day SMA.
- Crucial support levels are the rising support line in weekly chart from 158 levels and the 100 week sma near 186 levels.
- DOW JONES TRIPLE DIVERGENCE
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- Gold nearing channel resistance line.
- Price also testing the cloud and near 100 Day SMA.
- Bulls of Gold must trade the above mentioned levels for an up move towards 1750 to happen. Getting resisted at the channel could give a correction back to the channel support line.
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DOW JONES TRIPLE DIVERGENCE
- Morgan Stanley shows GAP up and close near the high's with Good Volume increase.
- Sustaining above 21.19 this up move is likely to continue at least till 24.46 levels.
- One hurdle for bulls could be the Golden ratio shown in the last chart. Trading above this level should give a bigger up move for MS
- DOW JONES TRIPLE DIVERGENCE
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- Bank nifty forms another 300 Plus range.
- This range must resolve for a 300 point move to happen. Price is trying to hold above 20 Day SMA.
- Weekly MACD histogram has been diverging without any major correction for a while. MACD lines are still in buy mode. Price closing below 20 SMA may trigger a correction.
- DOW JONES TRIPLE DIVERGENCE
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- First chart the weekly time frame shows price sustaining above previous resistance line. Last week also closed near its high's which looks good for bulls.
- Hope for bears is the resistance line drawn in second chart which must be held to avoid further up moves.
- Last chart shows MACD Histogram and price negative divergence. Bears need the MACD lines to give a bearish cross for the sell off to start.
- DOW JONES TRIPLE DIVERGENCE
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- Weekly chart testing 23.6% Fib level.
- Weekly RSI and price shows negative divergence. Price has started to show weakness and may extend the fall towards 10.1 or 20 Week SMA due to the negative divergence.
- DOW JONES TRIPLE DIVERGENCE
