The Dow Goes Higher

Dow Jones Industrial Average:

Dow Jones EOD Chart
The Dow Jones Industrial continued its upward move following the buy signal on the charts and after breaking through the L3 resistance. No Wolfe Waves seem to have appeared in the charts yet. As far as Gann levels are concerned, a good move was expected around the 27th of April, 2012 which seems to have occurred. That would mean that the prevalent weakness since the 2nd of April, 2012 would change over to an upward trend. However, one should wait for a few trading sessions in order to confirm the reversal.



Dow Jones 15 Min Chart
As of intraday charts, the index did make good gains following the buy signal and the bullish penetration in to the H4 Camarilla level. Though now Wolfe Waves are observed on the charts, the index may take it higher following the H4 crossover.




EURUSD:

EURUSD EOD Chart
Neither any Wolfe Wave patterns nor any Camarilla trading opportunities have been seen on the EURUSD forex charts. The pair is still standing in between the monthly L3 and L4 levels after having faced some resistance at the L3 level. though a sell signal prevails on the charts, a clear rend is yet to be established 
Gann analysis predicts that apart from the dates mentioned in our earlier post, the 29th of April, 2012 is also significant on which a trend reversal might occur. However, its a Sunday and the following Monday can expect to see some changes in the existing downtrend.


Gold:

Gold EOD Chart
Gold charts have shown positive moves as expected and are yet to make further gains in the near future. A strong H4 breakout and a buy signal on the charts are expected to take the metal higher. however, no Wolfe Wave patterns have been seen. Gann studies, in addition to 30th May, 2012  also predict an early date in May 2012 to be a probable one for trend reversal.                                                                                        



S&P CNX Nifty:



Nifty EOD Chart
The Nifty has continued with its sluggish movement till the end of this week. A sell signal on the charts is proving to be a weakening factor. However, the L3 resistance is also taking good stand.



Nifty 15 Min ChartIntraday charts have confirmed the bounce at the 1 - 3 line of the Wolfe Wave as shown on the attached figure. We can expect a good move one the EOD charts confirm the Gann reversal which is expected soon.




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