- Bearish weekly candle has give a correction. But a bigger fall will be possible only if the up trend line gets broken.
- MACD indicator in daily time frame has given a sell Now price has to sustain below 20 Day SMA and the up trend line for a bigger fall to happen.
- For bulls of Google price has to move above 20 Day SMA for a possible test of the resistance line shown in daily chart.
- S&P 500 WEEKEND UPDATE
- First chart is the weekly time frame which shows 1370 which was the previous resistance level which may act as support.
- Weekly MACD shows a sell signal in the making.
on the left of the chart note how price went into a range after a sell signal followed by a big fall. for now price may give one more rally from 1370 levels before the big sell signal.
- Price has fallen below 20 Day SMA. It should be difficult for bears to break below 50 Day SMA and 1370 levels.
- SILVER WEEKLY UPDATE
THANKS ILANGO SIR
- I posted MY FIRST POST
on 7th April 2010 and i was wished and shown direction on the same day by the Master (Ilango Sir) . I was inspired by the knowledge, Experience and the consistency of masters work which led me to start this blog and i had the fortune of getting his wishes from the beginning itself. I continue to learn from the master. Thank you Sir.
- Thanks to all those who read the blog special thanks to all friends from JUSTNIFTY and SLOPE OF HOPE of Tim Knight for supporting me from the beginning.
- Thanks to all fellow bloggers and experts of stock market (Anna , Leo, Steveo, Tony caldaro,
Cobra, LB, S Blonde, Jack, AARVEE, Money manthan, Bramesh and many others).
- Silver week sustaining below 50 Week SMA will continue to favor bears for a bigger correction towards the support line of the Big Descending Triangle pattern.
- Up moves from here should trade above 50 Week SMA and the falling resistance line for a bigger turnaround to happen.
- Silver bulls have been expecting the golden cross to happen But its getting delayed 50 SMA is moving away from 200 SMA, a fast fall is likely if this setup remains like this.
- Price sustaining below the cloud will favor bears on every rise.
- GOLD NEAR LONG TERM SUPPORT LINE
- price traded in a small range and closed below 20 Day SMA.
- Last chart shows the small range(1392 - 1401) just above 200 Hour SMA. Once price breaks out of this range we will get a bigger move.
- Breakdown below 200 Hour SMA should target 1386 levels.
- An upper breakout should help bulls to continue the primary trend.
- US DOLLAR NEAR RESISTANCE LINE
- SPY Four hour testing 50 period SMA.
- Price is also near the Ichimoku cloud of four hour time frame.
- Getting support here may help bulls to resume the up trend.
- Breaking below these two levels may change the trend in favor of bears and bigger fall might unfold.
- US Dollar near resistance line.
- Price has broken above the daily cloud. To continue the up move price need to stay above the resistance line.
- GOLD NEAR LONG TERM RESISTANCE LINE
