My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
March 30, 2012
ES Resistance levels
- ES one hour chart near resistance levels like the hourly Ichimoku cloud and Golden ratio for the recent fall.
- Close above golden ratio and Cloud will help bulls to extend gains.
- DOW JONES TREND UPDATE
- S&P 500 ANALYSIS AFTER CLOSING BELL
Nifty chart analysis
- Nifty managed to close above 200 SMA.
- A turnaround in trend may seen only if price manages to stay above 5 Day High EMA.
- Today being a weekly close price may try to close above 50 Week SMA As shown in 2nd chart
- The golden cross is still alive and if it is to perform well price should get back above 50 day sma soon. Price falling below 200 SMA will weaken this setup.
- DOW JONES TREND UPDATE
S&P 500 Analysis after closing bell
- Daily chart shows price getting support near 20 Day SMA and the price did a bullish candlestick in Hammer. Hammer is bullish if it forms at the bottom of a trend. It can also work well for continuation of the trend.
- Four hour chart shows price getting support at 50 Period SMA.
- One hour chart shows price taking support at 38.2% Fib level. If price sustains above 23.6% Fib level another up move is possible.
- DOW JONES TREND UPDATE
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