My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
September 21, 2011
MICROSOFT Triangle pattern
- MSFT Week shows price near the resistance line of the triangle pattern.
- MACD bars in daily chart is showing negative divergence.
- So price will start to come down towards the support line of the triangle in the coming days.
- GOLD SUPPORT AND RESISTANCE LEVELS
- S&P 500 ANALYSIS AFTER CLOSING BELL
NIFTY Resistance levels
- Nifty if breaks out above the resistance line shown in first chart will meet 50 Day moving average. 50% Fibonacci levels and the gap which starts @ 5230 level. And if it manages to continue through these resistance levels it will be a strong move.
- Breaking the support line of this pattern will act as a continuation of the larger trend.
- GOLD SUPPORT AND RESISTANCE LEVELS
- S&P 500 ANALYSIS AFTER CLOSING BELL
S&P 500 Analysis after closing bell
- Daily chart shows a bearish candlestick formation. Long tail shows selling pressure at higher levels.
- Correction started from near 50 Day Moving Average. For bears follow up selling needed to break SPX below 20 Day Moving average.
- Hour chart too looks negative, Price falling below 50 Hour moving average will extend this correction.
- GOLD SUPPORT AND RESISTANCE LEVELS
- SINA WEEKLY TRIANGLE PATTERN
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