- Daily chart is getting ready for a bullish cross. Previous two signals with 200 and 20 day sma has worked well. But this time price is nearing weekly resistance line from 175 through 128. So for a bigger up move price has to trade above this falling resistance line.
- BIDU CHART ANALYSIS
September 5, 2012
- BIDU Daily chart shows price testing the cloud. Sustaining above the daily cloud should result in an up move.
- Resistance level in daily chart is 50 Day SMA which is at 118. Support is near 110
- Weekly chart on closing basis shows strong support between 105 - 110. Positional bulls are safe as long as price closes the week above this level.
- S&P 500 ANALYSIS AFTER CLOSE
- Tata steel weekly chart shows price nearing channel support line. Support line for the current week is around 349.
- Up move will be possible only if price moves above the broken 78.6% Fib level.
- Daily chart shows price falling from head and shoulders pattern. Last chart shows positive divergence, For this one to work price must trade above 5 Day High EMA.
- S&P 500 EOD UPDATE
ONE HOUR CHART
FOUR HOUR CHART
- SPX One hour is getting support at 200 Hour SMA.
- Four hour chart shows price moving towards the cloud. If cloud gives support we may see an up move.
- Daily chart shows price moving towards the channel support line. Bulls need price to breakout above the black resistance line for the up move to continue.