- If dow jones closes below the horizontal line. The index will make a new lowest closing price for this year.
- That means closing near day's low point as well.
- It is clearly a bearish news. And chances of breaking below 9750 will increase
- But Even if we close below 9900 the falling wedge pattern will still be intact giving hopes to those bulls who has not triggered their stop loss yet.
- CLICK HERE TO SEE THE FALLING WEDGE IN DAILY CHART
- SP 500 hour chart fibonnacci levels shows resistance at 1072.84 that is the 38.2% level.
- But right now the index is finding tough to stand above 1064 that is the 23.6% level.
- 1079 is the 50% retracement level above which retail traders might become slightly positive.
EUROPEAN MARKETS
CAC
DAX
- The european markets opened weak. But after the data from germany they are all inching higer
- German data was solid That might ease some concern in europe.
- S&P and dow may open higher because of this positive news from europe.
- Futures for dow and sp 500 are indicating a positive opening till now.
EUROPEAN MARKETS
CAC
DAX
- The european markets opened weak. But after the data from germany they are all inching higer
- German data was solid That might ease some concern in europe.
- S&P and dow may open higher because of this positive news from europe.
- Futures for dow and sp 500 are indicating a positive opening till now.
- I thought today morning the gap of friday was filled.
- I had some problem with my charts which was corrected at 2 o clock.
- Now when i refilled the data, the gap is not filled although yahoo data is showing something else.
- if we close near the lows of the day the island reversal possibility is there.
- At least a correction of 5% from here can be expected if the pattern is confirmed
- Nifty hour chart had negative divergence
- But the price confirmation came with a big gap down. So it did not gave a chance to enter.
