- Resistance lines chart was posted yesterday and price moved up till first resistance line before falling.
- Now for the current fall price is likely to test the first support line were it may take support.
- S&P 500 ANALYSIS AFTER CLOSING BELL
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- First chart shows a possible support line in daily chart.
- Next two charts of 4 Hour time frame shows resistance levels that must be crossed if bulls are to make a bigger pull back.
- S&P 500 ANALYSIS AFTER CLOSING BELL
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- ORACLE Weekly MACD lines about to give a bearish cross.
- Weekly chart also shows Stochastic sell signal and price falling from crucial resistance levels. Bears need a close below 20 Week SMA for bigger falls to happen.
- For now price is likely to fall towards the rising support line shown in last chart.
- S&P 500 ANALYSIS AFTER CLOSING BELL
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- Equation is simple for nifty. Pause at 78.6% Fib level may result in a bounce.
- Breaking below 78.6% Fib level may attract more selling towards 200 Day SMA or Weekly Lower Bollinger Band.
- BANK NIFTY CHART ANALYSIS
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- Weekly chart nearing up trend line.
- Price also moving towards Weekly lower Bollinger band and 50 Week SMA.
- Weekly close below 23.6% will favor bears.
- SPX Weekly chart shows price forming another indecisive candle, Price is likely to remain a range for one or two weeks before breaking down.
- Daily chart has given a Shooting star candle at the top of the range and price likely to test the lower end of the range.
- One hour chart also made a bearish close towards the end of the day.
- SPY First chart is the hourly time frame which shows the resistance levels between 152 - 153 area.
- Other two charts are 15 Minutes time frame with trend line break and Fibonacci levels.