- SPX is close to its support level of 1209.47. Break below it may give good move in favor of bears.
- Price is below hourly ichimoku cloud. Price is also staying below important moving averages. So the hourly trend is in favor of bears for now.
- For bulls price should breakout above crucial moving averages and the hourly ichimoku cloud.
- AMAZON CHART ANALYSIS
- Monthly chart of US Dollar is testing the Ichimoku cloud. Breakout above the cloud can give good up move for US Dollar.
- Daily chart is showing negative divergence So if price gets resisted at the ichimoku cloud of month time frame we may see a dip in US Dollar and an up move for Equities.
- AMAZON CHART ANALYSIS
- S&P 500 WEEKEND UPDATE
- Gold is getting support from 1540 - 1560 level.
- 50 Week SMA has been held for now.
- So the next big move in gold will be possible once the above levels are taken out on closing basis. If they continue to give support an up move is possible from here.
- MCX Gold charts shown below this post
- Hour staying above 50 Hour sma can given an up move for gold.
- Daily chart has a hammer pattern which may act as important support for gold in the short term.
- Resistance will be at 50 Day SMA(28056) for now.
- ES One hour chart is testing resistance line drawn from 1270 levels.
- Price is also near 100 Hour SMA.
- Price sustaining above 100 Hour SMA May result in a bounce.
- Hour chart has a bearish cross so for the up move to sustain price has to move up substantially which may not happen. Bigger up move only if price is able to break and sustain above 200 Hour SMA,
- S&P 500 WEEKEND UPDATE
- First 3 charts shows the same bearish scenarios shown differently.
- 4th chart shows a potential positive divergence in daily time frame. For this one to work price should above 4580 levels approximately.
- Last chart shows the potential resistance level in case nifty starts to move up
- USDINR CORRECTION FROM RESISTANCE LINE
- S&P 500 WEEKEND UPDATE
- Amazon weekly chart shows price taking support at the support line of a broadening pattern. If the support line of this pattern holds we may get a bounce in Amazon.
- One thing to note is that price is yet to hit the long term trend line of Amazon.
- Daily chart shows positive Divergence. For this to be effective price should trade above 20 Day SMA, For a bigger bounce 50 Day SMA too has to be taken out.
- S&P 500 WEEKEND UPDATE
- Price Moving down towards the base of the triangle in daily time frame.
- Week candle closed above 100 Week SMA. If 100 Week SMA is protected by bulls we may see an up move.
- Price closing above 50 Day SMA will give an up move towards the resistance line of the triangle pattern or the 200 Day SMA.
