July 1, 2011

S&P 500 Analysis after closing bell

  • First chart shows price movement from 200 DMA to 50 and 100 DMA. Price closed above the resistance zone of 1316 were 50 and 100 DMA stands.
  • Price closed above the down trend line in daily chart and is moving into the resistance zone of 1332 - 1344 level.
  • Hour chart is also looking positive and is trending up above 200 hour moving average.
  • TRIANGLE PATTERN : EURUSD

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