My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
October 24, 2017
ES Support and resistance levels (Hour chart)
- Hour chart with immediate support and resistance lines.
- Strength extends above 50 Hour SMA. Correction towards 2550 levels only if price closes below 100 Hour SMA.
NIFTY Intraday update
- Bulls are safe above 10200 levels.
- Bears need price to close below the GAP shown in chart 1. That is around 10100 levels approx. In-between its Neutral.
- One hour shows 50 SMA acting as support for now. Close below this line may give the first signs of weakness.
October 23, 2017
ES Intraday update
UPDATED CHART
- Possibility of price Hitting 38.2% Fib level was very high Once price break below 50 SMA and 23.6% Fib level and it did just that. Once the confluence of support break the price action was fast.
- Immediate support levels for the day
- Break below 23.6% Fib level may give 2564 which is the 38.6% level. 100 SMA too is at this level for now.
October 22, 2017
ALPHABET Chart Analysis
- Google daily shows price testing the upper end of the range.
- One hour is sitting at the cloud. Bears need price to break and close below the hourly cloud for a possible Down swing to start.
- Price for now is staying below 50 period SMA. Bears should keep price below this line to build bearish momentum.
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QQQ Weekend update
QQQ Resistance Line, Negative Divergence and More
- QQQ Daily chart shows price nearing crucial resistance line.
- Weekly Chart shows a potential Bearish Doji. This one needs confirmation though. Price should open lower and close lower and it should not Move above the Current Doji for the candle to be most effective.
- Weekly chart also shows Big negative Divergence. But it also shows MACD Lines close to a bullish crossover which could be a Fake setup as well.
- ES ANALYSIS AFTER CLOSING BELL
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