- Weekly chart shows the up trend remains strong.
- Week and Daily chart are at resistance levels. Daily indicators are showing overbought readings which may give a correction towards rising support line shown in second chart.
- Weakness below 54.65, Strength above 55.9.
- BOEING BEARISH VOLUME SPIKE
- Boeing Daily chart shows Bearish candle with Volume spike.
- Daily chart is yet to break below the Rising support line. Weakness in daily chart below 98.99 levels.
- Weekly chart with MACD shows bearish alignment. Medium term weakness if price falls below 96.30 levels.
- S&P 500 WEEKEND UPDATE
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- On closing basis today SPX made New High's.
- Second chart shows price Moving towards a parallel channel resistance line which is around 1697 - 98 levels for next week.
- Weekly chart shows 1687 which is the crucial level for the coming week. Daily close above this level will hint more strength for Bulls of SPX.
- GOLD CHART UPDATE
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- Gold four hour and one hour chart shows price inching up towards resistance levels.
- Daily chart is nearing 50 Day SMA. This level may continue to act as resistance and price may resume the fall again.
- ES Hour Moving up in a channel.
- One hour shows support at 50 Hour SMA on declines.
- Daily chart shows price at crucial resistance level. Bulls need a breakout here to continue this up move. Weakness only on price falling below 50 Hour SMA
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- Above charts suggest an up move or Bullishness in daily chart But price reaching a point from were it could go both ways now.
- Weekly chart shows price in a broad range and price is near the middle of this range. Best trade one could have taken yesterday is buying the 2500 Straddle. Straddles work well when the volatility is expected to rise and is also safe as the trader holds both put and call at the same strike price.
- Daily chart shows the recent reversals from Lower BB through Middle BB has managed to hit the Upper BB. This up move too looks good to target the Upper Bollinger Band.
- Second chart shows confluence of resistance with the resistance line and Upper Bollinger band.
- But before that price has to Cross the Golden ratio shown in 4 Hour chart.
