My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
February 9, 2011
S&P 500 Futures Before opening bell
- ES Four hour chart is showing a rising wedge pattern.
- Price has given a negative break of the supporting trend line.
- If ES breaks below 1313 and sustains below 1313 bears will extend gains.
- If Price fails to break below 1313 we will see another new High for ES soon.
- DOW JONES RESISTANCE LEVELS
Nifty Futures intraday update
- The resistance line shown in 5 minutes chart is also a possible neck line of a small inverted head and shoulders pattern.
- If 5309 is taken out by bears then the balance of power will shift towards bears and they will get stronger if day low(5263) breaks again.
- Breaking above the resistance line and closing above this line may confirm a short term bottom for nifty futures.
- RCOM DESCENDING TRIANGLE
Nifty Breaks another support level
- 5350 too has gone without any big fight. Bears did it easily.
- The broken level is also the golden ratio. So the next target is the 78.6% level at 5118
- The RSI in weekly chart is slipping below 30% line again. This may give an oversold bounce.
- EURUSD DAILY CHART ANALYSIS
DOW JONES Resistance level
- Dow Jones monthly chart with Fibonacci levels.
- Fibonacci levels for the fall from 14198 to 6469.
- 12500 is near the 78.6% fib level which may act as the next resistance level.
- SPX SUPPORT AND RESISTANCE LEVELS
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