- First chart shows daily chart making newer highs.
- Weekly chart shows price nearing previous resistance levels of 32.88 and 33.45 which must be crossed for a bigger up move to happen.
- Last chart shows 50% Fib level at 31.28 which must be protected by bulls to target the Golden Ratio at 34.52.
- RIMM CHART UPDATE
- SPX ANALYSIS AFTER CLOSING BELL
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- Rimm weekly chart shows weakness near previous resistance level of 17.96. Week must trade above this level to target a cloud breakout or for moving above 100 Week SMA. UNABLE to trade above the weekly cloud and 100 Week SMA will be negative.
- Immediate support levels shown in daily chart are 20 Day SMA at 14 and previous swing high of 14.21.
- SPX ANALYSIS AFTER CLOSING BELL
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- SBI Daily chart shows price in a 128 point trading range.
- Weekly chart shows price ranging below 50% Fib level.
- Falling below 2423 levels may take SBI towards 50 Day SMA and lower.
- Breaking above the range may give a 100 plus point move. A bigger move needs a weekly close above 50% Fib level.
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- SPX 30 Minutes and One hour charts shows the trending moves in short term charts.
- Last one is the weekly time frame which shows price moving towards the upper resistance line. Price and RSI both has more room to move up before they hit the resistance line. Expecting a bigger correction from this resistance line.
- ES up trend of one hour chart continues to be strong.
- Price continues to sustain above 100 Hour SMA and Hourly Ichimoku cloud.
- 4 Hour chart is shown with bollinger band. Bears need a close below middle bollinger band for a bigger fall to happen
- Crude oil testing the channel support line
- 4 Hour chart shows price testing the Cloud which has acted as strong support for sometime now.
- 4 Hour chart also shows a trading range between 94 and 96. If the above mentioned support levels are held we may see an upper breakout from this range.
- SILVER TREND UPDATE
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- Hour chart shows price trending down below the Ichimoku cloud.
- Bearish cross of 20 and 50 Hour SMA continue to work in hourly chart.
- 4 Hour chart shows possible support at 50% Fib level. If holds an up move is possible. Breaking below 50% Fib level may lead to Golden ratio near 29.80 levels.
