April 18, 2012

Dow Jones Support and Resistance levels

  • Dow Jones Bulls must stay above 13000 - 13040 levels.
  • Bulls will gains strength above 200 Hour sma.
  • breakout above 13130 may lead to recent high's.

SILVER Triangle pattern

  • First chart shows a triangle pattern which may give good direction on a breakout or breakdown.
  • Crucial support and resistance levels shown in second chart.

ES Support and resistance levels

  • Hourly bullish cross of 50 above 200 SMA may save bulls from a bigger fall.
  • Bulls must break and sustain above the resistance line shown in the last chart for moving above 1400.
  • Breaking below the hourly cloud will weaken the bulls.

NIFTY Near Weekly support and resistance level

  • Nifty bulls are yet to cross the resistance line as shown in the last chart.
  • Bulls need a daily close above the resistance line and 50 Day SMA.
  • Yesterday the up move started near 50 Week SMA as shown in 2nd chart. Weekly upward momentum can be confirmed only on a close above 5 Week High EMA.
  • First chart shows a make or break level in weekly chart. A bullish candle will save bulls from deeper falls. Break and close the week below this level will add strength to bears.
  • S&P 500 EOD UPDATE

S&P 500 Analysis after closing bell

  • Daily chart having taken support near the cloud has come back to test 20 SMA again. Closing above 20 SMA will help bulls to continue the up trend again.
  • Four hour chart shows price breaking out of the falling wedge like pattern. Price is testing 50 period SMA which shall be crossed for continuing this up move.
  • One hour chart too is testing crucial levels like golden ratio and 200 Hour SMA.
  • So to summarize price has closed near crucial resistance level which shall be crossed tomorrow or we will see another leg down from the current levels.

SPY Resistance levels

  • Golden ratio and 50 Period SMA may act as resistance for this up move.
  • Price closing above this moving average line will favor bulls to resume the up trend.