- QQQQ Hour chart is trading above the cloud.
- Price is near its resistance level at 57.26
- If price closes above this level we may see 59 levels in the coming days
- getting resisted here will be negative
- SILVER DESCENDING CHANNEL
My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
January 27, 2011
QQQQ hour chart with Ichimoku cloud
SILVER Descending Channel
- SILVER Four hour time frame with a descending channel formation
- Immediate resistance for silver is seen between 27.82 - 28.05
- The channel bottom line is acting as support.
- SPY TRIANGLE BREAKOUT
SPY Price consolidation after triangle breakout
- Price is consolidating after its breakout from the triangle pattern.
- Breakout may achieve the target if the consolidation resolves on the upside.
- Breakdown below 129.40 will be negative. Price falling into the triangle will lead to a busted pattern.
- DOW JONES FUTURES CHART ANALYSIS
S&P 500 Futures Before opening bell
- ES Daily chart with resistance and supporting lines.
- 1296.50 is acting as resistance for ES.
- Closing above 1296.50 will extend the bull run.
- Breaking below the supporting trend line will be negative for the bulls.
- DOW JONES FUTURES CHART ANALYSIS
Nifty Futures intraday update
- Nifty Futures 15 minutes chart with Fibonacci levels.
- Price is getting support at 78.6% retrace level.
- Break of this level can give a selling opportunity towards the recent low.
- Getting support here may turn NF bullish in the short term.
- BANK NIFTY ANALYSIS
BANK NIFTY Bearish engulfing
- Bank nifty has given a bearish Engulfing candlestick pattern.
- Price hits the resistance line shown in the descending channel post.
- Bulls may try to form the right shoulder of an inverted head and shoulders pattern.
- NIFTY DAILY ANALYSIS
Nifty Daily Analysis
- First chart shows a target of 5550 Only if the recent lows are taken out.
- If 5750 is taken out first we may not see new lows in the short term. A firm close above 5750 will target 5863 and higher.
- Tuesday was a bearish engulfing day. We have to see if it shows its effects today. Normally this candlestick pattern is effective at the top of the trend.
- GOLD NEAR SUPPORT LEVEL
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