June 3, 2014

ES Trend update

  • ES Getting support at the cloud and 100 period SMA.
  • Negative divergence did gave a small correction but price has started to move up again.
  • MACD is likely to give another lower high and before that price is likely to make newer High's.

EURUSD Chart analysis

  • EURUSD 4 Hour chart shows price moving into the cloud which may act as resistance level.
  • Staying above 50 period sma this up will continue. 
  • If the up move sustains Immediate target could be the 23.6% Fib level.

CNX IT Chart update

  • CNX IT Daily chart nearing a death cross. Price near 50 and 200 Day SMA Which may result in bigger moves.
  • Weekly chart shows price trying to stay above 38.2% Fib level. A weekly close below this level will extend the fall in CNX IT.
  • 2nd chart shows a Weekly range between 8600 - 9000. Bullish structure of weekly chart will be safe if price stays above this range.