April 18, 2012

S&P 500 Analysis after closing bell

DAILY CHART
FOUR HOUR CHART
ONE HOUR CHART
  • Daily chart having taken support near the cloud has come back to test 20 SMA again. Closing above 20 SMA will help bulls to continue the up trend again.
  • Four hour chart shows price breaking out of the falling wedge like pattern. Price is testing 50 period SMA which shall be crossed for continuing this up move.
  • One hour chart too is testing crucial levels like golden ratio and 200 Hour SMA.
  • So to summarize price has closed near crucial resistance level which shall be crossed tomorrow or we will see another leg down from the current levels.



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