- First chart is an ascending triangle pattern which is bullish. But compare it with the last chart the up move does not have increasing volume. If bulls manage to breakout above this ascending triangle they should do it with a volume breakout as well so that the breakout will sustain.
- Other two charts shows bearish scenarios. Weekly stochastic is near overbought zone. Price hitting upper Bollinger band in weekly time frame. If ascending triangle does not give a price volume breakout these two charts are likely to give a correction.
- SILVER WEEKEND VIEWS
- DOW JONES WEEKEND ANALYSIS
- Crude Oil daily chart shows price closing below 50 Day Moving average.
- Falling below 97.70 level will favor a bearish trade.
- Week chart shows important support levels like 50% Fib level and 50 Week SMA between 94 - 95 levels.
- SILVER WEEKEND VIEWS
- DOW JONES WEEKEND ANALYSIS
- Silver daily chart shows price closing above 50 and 100 SMA in daily time frame.
- But Weekly chart shows price entering possible resistance zone in the form of previous Broken support.
- So holding 100 SMA silver should continue its up move.
- Falling below 100 SMA will be negative for Silver in the short term.
- If price sustains above 32 - 33 levels then a possible hit at 50 Week SMA is possible.
- DOW JONES WEEKEND UPDATE
- First chart is Dow Jones monthly time frame with resistance line from 2007 Top, Price has violated this resistance line.
- Only hope for bears is the resistance levels shown in last chart. 12753 and 12876 are the levels which might stop this up move. All other charts shows bulls in complete control with price not showing any weakness yet.
- ORACLE CORP WEEKEND ANALYSIS
- ORACLE has filled the GAP in daily chart.
- Price is approaching 50 and 100 Day SMA levels.
- There is a slopping resistance line in daily chart which may act as resistance for this up move up.
- Week chart is also near Mid Bollinger band which should be crossed by bulls for sustaining this rally.
- Daily RSI is showing very overbought readings. But price is yet to show any weakness.
- the slopping resistance line in weekly chart, 200 Day SMA and previous broken support all of these points to a resistance around 10000 level. If it is going to be a bigger up move price need to stay above this level. Price is expected to give a correction from this level.
CHART-III
CHART-II
CHART-I
- Microsoft about to hit the second resistance line at 29.44.
- There was a pull back at 28.13 after the triangle breakout, But last week's closing was in favor of bulls which made this up move possible.
- For bears of MSFT hope only at 29.44 were price may give a pullback.
