AUSTRALIA ORDINARIES made a bullish breakout.

AUSTRALIA ALL ORDINARIES

• ASX Index has made a bullish breakout as it closed above its major resistance @ 5523.
• Technical indicates that as long it holds above bulls will be favored as its previous resistance will now act a major support for ASX Index.
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WPX ENERGY moving in a range bound zone, sharp movement expecting once it comes out from its pattern.

WPX ENERGY

• Stock moving in a range bound zone, chart indicates as long as stock moving in its range trend will be mix, sharp movement expecting once it comes out from its formation.
• Upper side WPX ENERGY also finding 50 days moving average resistance around 12.46, further price rise can be seen on it closes and holds above 12.46. Close Watch.
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HANG SENG finding strong support at current levels.

HANG SENG INDEX

• Index has formed head and shoulder formation in daily chart.
• Hang seng Index is now finding strong support at current levels @ 24370. Its previous resistance is now acting as a major support.
• As long as Index holds above 24370 bulls will be favored, once it closes and holds below 24370 then further weakness is expecting.
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S&P 500 moving up from strong trend line support zone.

S&P 500 INDEX

• Index moving in triangle formation, this indicates sharp movement expecting once it comes out from its triangle formation.
• S&P 500 Index is also moving up and so far holding above 200 DMA this indicates bulls will be favored.
• Index also moving up from strong trend line support zone @ 1980, as long as holds above further price rise can be seen. Weakness expecting once s&P500 index closes and holds below 1980.

DJIA moving up from strong trend line support zone.

DOW JONES INDUSTRIAL AVERAGE

• Index moving up from strong trend line support zone @ 17038, this indicates as long as Dow Jones holds above its trend line then further price rise can be seen.
• Once Index closes and holds below 17038 then further price fall can be seen in coming days.
• Dow Jones Index also closes and holding above its 200 DMA this indicates bull will be favored.
• If Index moves up from further from current levels then Down will find strong trend line resistance (as per line analysis) around 17600, 17840, 17916 & 18103.
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