- Dow Jones daily chart at resistance zone.
- Weekly chart shown with reducing volume as price moves higher.
- Volume analysis hints that this up move may not be a bigger breakout. Above 13340 Dow may hit 13500 levels. Around this level price should hit the resistance line of the rising wedge.
- S&P 500 ANALYSIS AFTER CLOSE
- Copper daily chart near previous support level which may act as resistance
- Daily chart is also approaching 200 SMA and Golden ratio. So copper bulls must cross strong resistance levels for extending the current up move.
- Gold daily chart with Fib Fan shows price getting resisted at 78.6% Fib line.
- Unable to close the week above the cloud may result in a fall towards breakout level again.
- Previous support line which is broken may act as resistance and a bearish candle at this stage should favor bears for a correction towards breakout level.
- Gold bulls need to close the week above the cloud to avoid the above mentioned correction.
- S&P 500 ANALYSIS AFTER CLOSE
- Nifty Daily chart getting ready for an up move from the rising support line
- For bulls day must sustain and close above 50 Day SMA.
- Nifty week is poised between 50 Week SMA and Weekly cloud so a trending move may not happen until these levels are taken out.
- S&P 500 EOD ANALYSIS
- SPX Daily chart shows price breakout above recent high's.
- Daily Chart shown with a possible resistance line. For tomorrow the resistance line is near 1445 level.
- Weekly chart shown with a rising wedge pattern. Resistance line for the wedge is around the same level of that the daily chart.
- Price is likely to fall from the above mentioned levels.
