- Hourly cloud shows price trending below it from 50 levels. Now price is approaching the 200 Day SMA. More weakness if this level is not held.
- Weekly chart earlier got rejected at the 50 , 51 , 52 zone. A Bigger bullish pattern is stopped for now.
- S&P 500 Analysis after closing bell
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- Weekly chart shows weakness as price falls back into the Multi Week 300 point range.
- Daily chart shows price testing 200 Day SMA. Last fall below this line did not give bigger gains. Bears are hopeful this time.
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- The 15 Minutes chart continues to trend. cloud of this time frame acting as resistance so far. This may change if the 100 Day SMA decides to act as support. If price moves above 15 Minute cloud from the current levels an up move is possible. On the contrary a close below 100 SMA means a fall towards the Rising support line of weekly chart.
- The overall pattern will remain bullish till price stay above the rising support line of weekly chart.
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- ES 4 hour daily and Weekly chart testing the support zone between 2100 and 2120 zone. For bears to have an advantage this has to be broken, Staying above this level will keep the bulls hopeful of another big up move.
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- Nifty daily chart shows price testing 100 Day SMA. Earlier price get resisted at 50 SMA and now its seeking support at 100.
- Hour chart shows price near crucial support zone near 8500 levels. A quick reversal or a bigger breakdown depends on this area.
- AXIS BANK CHART ANALYSIS
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- Tesla after Hours action suggests price could test the 200 SMA when it opens tomorrow. For bigger up moves need Tesla bulls to close the day above 200 SMA which has acted as resistance recently.
- Month chart shows price staying near crucial support line. If price moves out of the pattern the first test could be at 235 levels.
- But most important before 235 is to cross the 200 SMA on closing basis.
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- ES Daily and 4 hour chart shows price near crucial support levels. 2115 to 2126 levels have held before so for a bigger fall this level must be broken on closing basis.
- Immediate resistance is seen at 15 Minutes cloud. A short term reversal possible if price moves back and stays above 15 Minutes cloud.
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