February 1, 2011

SPY Chart analysis

  • SPY 4 Hour time frame with 50 period moving average and ichimoku cloud.
  • Price met the 50 period moving average in 4 hour time frame after some weeks. Price was near 119 levels when it break away from this moving average.
  • Price has taken support at this moving average for now. Seeing the price action It seems a convincing break below the moving average may not happen today. Trend will change completely if only price starts to trade below the cloud. As long as price stays above the cloud upper breakouts can be seen.

1 comment:

  1. Hi San Bhai
    Good Morning

    Is there any source from where we can get 4hour charts of Nifty and other Indian Indices?