- ES Hour chart with support at 1251.50
- This level has to break convincingly for bears to extend gains.
- This level was broken once which gave 1245.50 levels.
- If price takes support here we may see 1255 again.
- SILVER RESISTANCE LEVEL
December 30, 2010
- Silver triangle breakout has given a good long trade. Price failed to sustain above 30.750 level which was discussed in the below chart.
- Price may do a retrace of the breakout before going up again.
- Silver four hour chart shows a triangle pattern breakout.
- Price may find resistance near 30.750 area.
US DOLLAR DAILY CHART
EURUSD DAILY CHART
- US Dollar looks weak following a triangle pattern breakdown in daily chart.
- US Dollar has closed below its 50 day moving average closing below the support line of the triangle will make it weaker.
- EURUSD looks strong. Breaking above its 50 day moving average will make it stronger. Resistance level is at 1.3496.
- 50 day Moving average can also act as resistance for EURUSD.
- DOW JONES FUTURES CHANNEL FORMATION