Dow Jones and Crude Technical View
Crude Technical View :
A bullish flag pattern being seen on the daily charts. Sustained move above 53.5-54 would imply a quick move to 59-68.
Double
bottom around 47 levels also shown on the chart. A close below those
levels would negate the view and may lead to bearish implications.
Dow Jones Technical View :
In
the last update i had reservations about the move being able to cross
7600 ( 61.8 % ) levels and going towards the upper end of the channel.
Since the index crossed 7600 the next technical target comes to the
channel top at 8300-8550 roughly. Till it holds 7700 levels we can
expect a test of the upper channel in short term.
Once the index reaches those levels one needs to be cautious over the world markets.
Gold
weakness continues to remain with it hovering around the 880 mark. Lets
c if it can convincingly break 865-885 zone and the next target would
be 845/810. Upsides would face resistance at 905/920.
TECHNICAL
ANALYSIS TRAINING SESSIONS planned for Bangalore , Hyderabad, Mumbai in
next few months. Conducted for a small group of 6-10 people.
Interested people mail to noorrock2002@gmail.com so we can schedule for
the cities accordingly.
Best Regards,
Nooresh
09819225396
noorrock2002@gmail.com , meraninooresh@yahoo.com
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