- Last week's up move on US Dollar was resisted @ its 200 DMA.
- Ascending Triangle pattern is still intact.
- First attempt to breakout of the ascending triangle was stopped by the 200 DMA.
- Next attempt may be successful But if price dips below 74.405 then pattern will become weak.
- S&P 500 WEEKEND UPDATE
- My New Blog on FOREX MARKET--FOREX TECHNICAL ANALYSIS
- SPX Weekly and daily chart shows a neutral to negative view going into next week.
- Correction from 1356 is taking a pause now. Breaking last week's low 1306.51 will extend correction.
- Daily close above 1331 will favor bulls for a retest of 1356 level again.
- My new blog on Forex Market -FOREX TECHNICAL ANALYSIS
- Nifty is still stuck in between 50 and 200 DMA.
- But indicators like MACD are suggesting some weakness in daily time frame.
- Price just managed to close below 20 week moving average.
- If price continue to stay below 20 week moving average we may see an extended correction.
- MACD is about to trigger a sell. Bars have reached near zero. So if price confirms by breaking the recent low(5496) we might see good down move in favor of bears.
- On the contrary if the low 5496 is held and 200 DMA is not broken then we might see another pause week without any major action.
