September 20, 2012

SBI Chart Analysis

  • SBI Testing the falling resistance line discussed in an earlier post.
  • If price does not pull back from here then the targets could be near 2252 levels.
  • Major resistance points will be the weekly cloud top and 100 Week SMA.
  • Price testing 78.6% Fib level, Trading above this level will extend the up move towards 2252. 
  • Bears need a weekly close below the falling resistance line.
  • CRUDE OIL RISING WEDGE BREAKDOWN
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