- SINA Corp weekly chart shows price testing crucial support zone between 41 and 43
- Daily chart shows a Bullish engulfing pattern.
- Daily chart with macd shows positive divergence. Good upward momentum can happen only if price starts to trade above 50 levels.
- IWM Daily chart shows price closing above the falling resistance line.
- 50 Day SMA is the immediate resistance level.
- Weekly chart looks bullish as price forms an engulfing pattern just above the cloud. If the price advance continues the engulfing pattern can be confirmed.
- Apple Weekly chart shows price staying above the daily range.
- Next resistance in weekly chart is at 78.6% Fib level which is at 637
- Monthly chart too shows the upper bollinger band around the same level as 78.6% Fib so this level may act as resistance confluence.
- Crude oil daily chart shows price nearing the crucial resistance zone near 105 levels. Two chances here either a Triple top or a breakout towards 108-110 levels.
- Weakness only if price starts to trade below 103 levels.
- A consolidation range at the resistance zone may also give hope for Crude oil bears for a possible reversal.
-
GOLD TRIANGLE UPDATE
-->
- Gold Daily chart continues to contract in a triangle pattern.
- Price is nearing the daily cloud which has been acting as resistance.
- As price nears the cloud volatility may increase.
- ES 4 Hour chart shows price nearing recent high's
- Crucial support levels for the day at 78.6% Fib level and the 30 Minutes cloud.
- Pair making new lows in four hour time frame as seen in first chart.
- 2nd chart shows price violating crucial support zone of daily time frame.
- As discussed in the earlier post EURUSD continues to look weak below 200 SMA.
