December 20, 2012

BANK of America Bearish Engulfing

 
  • BAC Daily chart shows a bearish engulfing pattern. Engulfing patterns needs confirmation with price advance and Volume increase.
  • Weakness in weekly chart at Golden ratio and 200 Week SMA. Bulls need to close the week above these two levels which will also negate the bearish engulfing discussed above.
  • SPX ANALYSIS AFTER CLOSING BELL
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