- Gold has closed above 50 Week SMA.
- Price has also closed above weekly falling resistance line.
- Last two charts shows levels which may act as resistance. If price breaks these two levels on closing basis we may see a bigger up move in gold.
- S&P 500 WEEKEND UPDATE
- Crude oil shows a bearish candle at golden ratio
- Daily chart too closed below 200 Day SMA.
- If price sustains below these two resistance levels we may see correction in the coming weeks.
- Last chart shows possibility of a bigger move which is possible if price starts to trade above last weeks candle. Price breaking below 50 Week SMA which is near 95 will favor bears of crude oil.
- S&P 500 WEEKEND UPDATE
- SPX Shows a MACD Sell signal after negative divergence.
- Sell signal will be effective only if price starts to trade below 20 day SMA. For now price is getting support at 20 Day SMA.
- Last chart shows strength above 1406 and 1422 which are resistance levels. For a possible breakdown price must fall below the rising support line from 1266 through 1331.
- GOOGLE RESISTANCE LINE AND NEGATIVE DIVERGENCE
