Update SPX,DJA, Gold, Oil, Silver Sep 24th 2012

SPY Support levels

 

• SPY 4 Hour chart with up trend lines and 50 period SMA as support levels.
• Breaking below 38.2% Fib level may extend the correction towards the golden ratio. An up move may happen from the first up trend line or the 50 period SMA.

Dow Jones ~ Intraday Update ~ 24 September 2012

The Dow declined to the lower trendline of the sideways range again today. The next target seems to be the top of the range at 13640ish again:

GLD Chart Analysis

• GLD Near previous resistance level of 174.
• Weekly chart also shows price pausing near 61.8% Fib level.
• Daily MACD is showing some weakness which may work well for bears on a channel breakdown and falling below 170

CRUDE Oil Update

DAILY CHARTS

 

4 HOUR CHART

• Sustaining below 50 Day SMA should continue to favor bears of crude oil.
• Crucial support and resistance levels shown in 2nd chart.
• Last chart is of 4 Hour time frame which shows price near crucial level of 90.96. Trading above the 20 Period SMA may give a bounce in favor of crude oil bulls.

SILVER Trend update

 

• Silver 4 Hour chart shows support at 33.48 and 100 period SMA.
• For a possible trend change price must fall below the cloud.
• Taking support at the current levels may give 35 levels again.