March 21, 2015

GOOGLE Weekly resistance line

  • Google continues to stay below the weekly falling resistance line.
  • This resistance line gave two bearish swing trades earlier. Third swing sell is yet to confirm. Price need to close below 50 and 100 SMA. Closing below the rising support line shown in chart 2 will be an early indicator of weakness.

SPY Weekend update

  • SPY Moved above the previous daily range. Price is also staying above 20 Day SMA. More up moves can happen only if price moves above 212 levels quickly. Unable to clear 212.24 may lead to another correction.
  • Crucial support for next week is 208 and 204 levels. close below 208 can give 204 levels. Bulls if stays above 20 SMA can break above 212 levels. 

SILVER Weekend update

  • Silver daily is moving towards Ichimoku cloud
  • Daily time frame also near 200 Day SMA.
  • If week continues to stay above 20 Week SMA then price may break above the resistance levels shown in daily chart. This may help price to move towards Weekly Upper Bollinger band.

NIFTY Weekend update

  • Nifty near Multiple support levels
  • Weekly chart just managed to stay above 20 Week SMA.
  • 3rd chart shows price nearing range bottom.
  • For a bigger fall to happen Last chart is crucial. Last chart shows price nearing the rising support line of the broadening pattern. This one has to breakdown for bigger falls to follow.