- SPY Hour chart with a triangle pattern
- Price approaching the resistance line of the triangle.
- Bears has to protect the resistance line to avoid a bigger up move.
- APPLE CHART ANALYSIS
My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
November 11, 2011
SPY Triangle pattern
Nifty intraday Update
- Nifty line chart shows price still holding above the breakout level.
- For bears price has to close below 5140 - 5160 levels.
- Candlestick chart shows price testing 20 SMA. Closing below 20 SMA will be negative for bulls.
- RCOM BEARISH ENGULFING
SBI Chart Analysis
- SBI got resisted at the weekly resistance line.
- Daily chart is showing a High Volume bearish candle.
- Breaking below 1827 will help bears to continue the down move.
- MACD yet to give a sell in daily chart, a sell signal will strengthen bears.
- Weekly and Daily close below 1827 will favor bears for the coming weeks.
- RCOM BEARISH ENGULFING
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