August 4, 2012

IWM Weekend update

  • Daily chart has resistance at 100 Day SMA and falling resistance line.
  • Weekly chart shows a contracting triangle pattern and Support at 50 Week SMA.
  • Weekly stochastic has a sell signal which will be effective only if price trades below 50 Week SMA and 76.22 level.
  • Daily chart will favor bulls above 100 Day SMA and falling resistance line. Crucial resistance at 81.84 level.


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