My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
October 18, 2012
EURUSD Resistance levels
- EURUSD Weekly chart at 38.2% Fibonacci level.
- Price near weekly resistance line and weekly cloud which may act as resistance.
- Trading above the fib level and resistance line may give an up move into the cloud. But the long term trend of EURUSD Will only change on a weekly cloud breakout which is unlikely to happen for now.
SPY Chart analysis
- SPY 4 Hour chart shows a possible resistance line. Price is also unable to trade above 78.6% Fib level as shown in hourly charts. Bulls must trade above these two levels on closing basis for a bigger up move to happen
- For bears Weakness below Golden ratio(61.8%) shown in second chart and 200 Hour SMA shown in the last chart.
ES Chart update
- ES S hows weakness near the selling zone of daily chart
- But the Hour trend is still favoring bulls despite the weakness.
- Price closing below 50 Hour SMA should be a worrying sign for bulls.
- S&P 500 ANALYSIS AFTER CLOSE
NIFTY Chart update
- NIFTY Daily chart inside a range between 5633 - 5728. Daily close below this range on closing basis may give good direction.
- Weekly chart shows supports till 5600 level.
- Sustaining above the golden ratio should favor bulls to resume the up move.
- S&P 500 EOD ANALYSIS
S&P 500 Analysis after closing bell
- SPX Hourly charts shows price near 78.6% Fib level which has to be broken for extending this move towards 1471. For bears price need to fall back into the cloud or below 100 and 200 Hour SMA for a breakdown or weakness in hourly charts.
- Weekly chart shows good momentum till now. Bulls near the selling zone of 1467 - 1474, They need a strong close for the week into this zone or above it for a possible breakout to happen.
- APPLE UPDATE
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