BAIDU Triangle Breakout

CHART-II

CHART-I

• Baidu has broken out of the triangle and has broken above the resistance level of 102.
• The next resistances are 104 and 106.
• GOOGLE TRIANGLE BREAKOUT
  

S&P 500 Near resistance level

• S&P 500 Hour chart shown with a range of 1162 - 1180
• Price is approaching the top of the range. 1180 is a good resistance level.
• More upsides are possible only if 1180 level. If price manages to breakout next resistance level is at 1190 area.
• DOW JONES WEEKEND ANALYSIS
  
  

S&P 500 futures before opening bell

ONE HOUR CHART

 FOUR HOUR CHART

• One hour chart showing a range of 1162 - 1180. Bigger moves are possible when the range gets resolved.
• 4 hour chart showing a channel. Price violated the lower boundary for a while but has managed to get back into the channel again.
• Trading above 1175 will give a bullish look to the 4 hour chart.
• DOW JONES WEEKEND ANALYSIS
  
  

Broadening pattern gives support

CHART-II

• Nifty futures trading above 6091 will be positive for the index.
• If sustains above this level NF should move to the top of the range or to the top of the broadening pattern.

CHART-I

• The support line of the broadening pattern gives support.
• But things will favour bulls only if it trades above 6091. I am expecting NF to get resisted around 6091 levels and test the support area of 5939 - 5961 during this week.
• A sharp recovery is possible only if NF trades above 6091 with good volumes.

Nifty futures intraday update

HOUR CHART

DAILY CHART

• Nifty futures as expected on Friday's eod post is about to trade below 6000.
• First chart shows a possible support are 5939 - 5961.
• Other chart shows the effect of dark cloud cover pattern.

Nifty daily analysis

• Nifty has closed below its 5 day low ema decisively for the first time after the up trend began from 5500 levels. The last time it closed below its 5 day low ema was around 5400 levels.
• An ascending broadening wedge or an ascending megaphone is possible. A broadening top is also possible. Both these patterns may give support for nifty in the short term. Breaking the support line of these patterns will be negative.
• Dow Jones weekend analysis