October 29, 2014

S&P 500 Futures chart update

  • Hourly chart continues its trending move above the Ichimoku cloud.
  • Price is staying above 50 Day SMA.
  • Hope for bears in the Resistance levels shown in first chart. Weakness here may lead to a correction. But first Hour chart needs to break below the cloud for a possible bearish trade to happen.

Bank Nifty Chart analysis


  • Weekly and Daily are testing resistance lines. But no alarms for Bulls yet as price is not showing weakness.
  • Positional support for BN is around 16220 - 16260 region and the GAP as shown in second chart.
  • Daily MACD is showing negative divergence. But both MACD and Price yet to show sell signals.
  • CRUDE OIL MONTHLY Chart analysis