- SPX Hour with possible resistance line.
- for the current up move price should hit the resistance line near 1377 - 78 levels.
- for a correction price has to break below the dotted line as shown in the chart.
- Price is staying above the monthly resistance level so the chance of the resistance line getting broken in favor of bulls is there.
- Google is breaking out of the range and above 50 Day SMA. Bulls of google need a close above 50 Day SMA to extend gains towards the golden ratio and above it.
- Sustaining above 50% Fibonacci levels should take GOOG towards 61.8% Fib level
- SILVER ABOVE RESISTANCE LEVELS
- Silver bulls need a daily close above 35.68 for confirming a breakout.
- Weekly candle is trying to stay above 50 Week SMA. If this is not a false spike price may target 38 and above.
- JPM at important levels in week and monthly charts. Price above 50 Week SMA should favor bulls. But price has to cross Weekly cloud and Month middle bollinger band for the up move to gather momentum.
- QQQ TREND UPDATE
- Nifty bulls has to trade above 20 SMA which is at 5397, Unable to sustain above this level may give selling opportunity for bears again. 38.2% Fib level too is around 5400 level as shown in hourly charts. So a bigger up move possible if nifty trades above these two levels.
- Failing to cross these levels will give a selling opportunity.
- Bank nifty support level shown at 200 SMA and the channel resistance line which may become support.
- Week cloud acting as resistance. price closing below the cloud will be bearish in the short term.
- BN 200 sma Near 9850 and 38.2% Fib level at 9906.
- Crude oil in four hour time frame is getting support from cloud and 100 period SMA. Above these two levels the up trend will be intact.
- daily staying above 10 Day EMA will not give bigger corrections. Price falling below 10 Day EMA may give a correction. If the fall is limited price will give a breakout above the recent high's and move above 111 levels.
