Thursday, December 10, 2009

S&P LONG TERM CHART

s&p may trade in betwen 970-1075 but 5 pattern is not complete . i think it should complete near 844 level then it will go up trend means ( may be touch all time high )

50% retrace ment suggests ----strong resitance near 1122 level

negative divergence ----bearish in ahead

doji in candlestick near strong resitance of trend line suggests --bearish in ahead

U turn in dollar and breakout above 75.20 suggests bullish in ahead ---it may trade in between 75.30--76.70 level but ultimate tgt. is 78 level .

copper is in higher levlel suggests bearish in ahead( means in commodities )