Monday, June 7, 2010

Weekly Analysis - PnF Approach

Weekly analysis:




Weekly PnF indicates first level of Support at 4950; failing which it shall go on to test 4750! Upside resistance at 5160 - 5200.

Daily analysis:




Daily PnF indicates first level of Support provided at 4980 - 5000; failing which it shall go on to test 4850 - 4870! Upside resistance at 5200 - 5240.

Hourly analysis:



Hourly PnF indicates first level of Support provided at 5000 - 5010; failing which it shall go on to test 4920 - 4940! Upside resistance at 5090; breaking which it shall test 5160 - 5170.


In nutshell,
Weekly LT is turning from UP to DOWN.
Daily LT is UP, ST is testing bottom.
Hourly, LT is UP, ST is turning from UP to DOWN.

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