- 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.
- IBM is getting support near 200 SMA.
- Price if closes above 20 Day SMA should favor bulls for the coming weeks.
- Weekly chart is staying below Middle bollinger band for now. Today's weekly close should give good direction for the coming weeks.
- Long term up trend looks safe above the weekly cloud.
- ES CHANNEL UPDATE
- ES sustaining near channel resistance.
- Price yet to violate channel resistance.
- Breaking today's low may trigger a correction towards 50 Day SMA.
- S&P 500 ANALYSIS AFTER CLOSING BELL
- Copper getting resisted at a previous support level.
- Daily candle closing below this level will favor a bearish trade.
- Price is testing 50% Fib level, Bears of copper need price to sustain below this level.
- S&P 500 ANALYSIS AFTER CLOSING BELL
