- Dow Jones Daily chart shows RSI moving towards overbought zone and price is likely to hit the resistance zone marked in chart. Daily MACD is looking strong, a Red bar on the MACD histogram when price hits the resistance zone may hint of a reversal.
- Weekly chart shows a developing negative Divergence and it shows some more up side before the reversal can start.
- ES Ascending Triangle
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- Netflix weekly chart shows big negative Divergence with Price and RSI. Daily chart is also showing bearish price action, But the weakness due to divergence can be confirmed only if price starts to trade below 50 Day SMA.
- Weekly chart looks like it may correct to the rising support line of the channel in the coming week.
- CRUDE OIL Weekend update
- ES Ascending Triangle
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- Cisco weekly chart shows price testing the up trend line and 50 Week SMA. Bullish weekly candle here could confirm a reversal.
- Daily chart shows price trading below the crucial 200 Day SMA so the stock continues to look weak and a Bullish reversal can be confirmed only if price starts to sustain above the 200 SMA and the falling resistance line shown in last chart.
- ES Ascending Triangle
- Facebook Daily chart has given another bearish engulfing pattern. Correction started with the first Bearish Engulfing pattern. For the next pattern to work well price must break crucial support zone around 51 and a daily close below 20 Day SMA should give an extended fall.
- CRUDE OIL Weekend update
- ES Ascending Triangle
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- Crude oil weekly chart shows price taking support at the triangle resistance line.
- Bounce also coincides with the golden ratio shown in weekly chart.
- Daily chart shows Pin Bar candlestick which may give a bounce towards 23.6% Fib level.
- ES Ascending Triangle breakout
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UPDATED CHART
- Ascending triangle has given a breakout. Price managed to close above the resistance level after multiple failures. Bulls if holds above the resistance zone will be able to extend this up move further in the coming week.
- 1st chart shows an ascending triangle in 30 Minutes time frame with failed breakouts. Price closing outside this pattern should give good direction. Ascending triangles mostly breakout on the upside.
- 2nd chart shows strong support at 100 Hour sma which bears should break on closing basis. Breaking the resistance level will extend the primary trend.
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- Facebook one hour chart shows previous resistance level acting as support.
- 38.2% Fib level is also acting as support. For bigger correction price must close below these levels.
