- Price closed the week below 5 Week high EMA which is bearish.
- Week chart shows support resistance zone between 9950 - 10000.
- Moving averages shows 50 and 200 SMA close together which will be tough to break. 50 Week sma near 10050 is also an important support level.
- Multiple support levels if not held corrections will be large.
- QQQ 30 Minutes chart shows a triangle like contracting pattern.
- Breakout on the upside will help bulls to continue the trend
- Breaking the support line may take price towards Ichimoku cloud.
COPPER DAILY CHART
COPPER ONE HOUR CHART
- Copper daily chart shows correction from the resistance line.
- One hour chart shows a support line. If this line is held we may see copper moving up again to test the resistance line again.
- If this line does not hold price may fall towards 3.8120 levels.
- Yahoo moving up from weekly channel support line.
- Daily is near 50 Day SMA. Closing above this level should extend this up move towards the channel top.
- ES continue to trade above 50 Hour SMA and Hourly ichimoku cloud
- Correction will happen only if hourly candle closes below 50 Hour SMA
- BANK OF AMERICA GOLDEN CROSS
- Ichimoku cloud of daily time frame is acting as support.
- Pair is moving up from the cloud But a bigger up move will happen only if daily candle closes above 20 day SMA.
- If it is a strong down trend price will not trade above 20 Day SMA.
- BANK OF AMERICA GOLDEN CROSS
FOUR HOUR CHART
DAILY CHART
ONE HOUR CHART
- Silver daily chart is finding support at 50% Fib level
- 20 period SMA of four hour chart is acting as resistance as shown in first chart.
- An up move is possible if price trades above the 20 period moving average of four hour time frame.
- One hour chart shows price contraction which may lead to a bigger move.
