S&P 500 INDEX has formed triangle formation in daily chart, sharp movement expecting once it comes out from its formation.

S&P 500 INDEX

• Index has formed triangle formation in daily chart, sharp movement expecting once it comes out from its pattern.
• S&P 500 Index is currently moving up from strong trend line support zone @ 1980, as long as holds above bulls will be favored.
• Index also holding above 200 DMA, this indicates bulls will be favored.
• Close watch as per line analysis, Index will find strong resistance around 2050, 2065 & 2093. Once it closes and holds above its resistance then further price rise can be seen in coming days.
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MARATHON OIL moving in range bound zone, sharp movement expecting once it comes out from its pattern.

MARATHON OIL CORPORATION

• Stock moving in a range bound zone, chart indicates as long as it is moving in between its pattern trend will be mix. Sharp movement expecting once Marathon Oil comes out from its range.
• On upper side stock is finding resistance around 28.95, further price rise can be seen once stock closes and holds above 28.95.
• So far stock is holding above 50 days moving average this shows that bulls will be favored. Close Watch.
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DJIA finding strong trend line resistance at current levels.

DOW JONES 

INDUSTRIAL AVERAGE (DJIA)

• Index moving up from trend line support @ 17038.
• Dow Jones Index also holding above 200 Days moving average, this indicate as long as holds above bulls will be favored.
• On upper side DJIA is now finding strong trend line resistance around 17685, further price rise can be seen once it closes and holds above 17685.
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WPX ENERGY made a bullish breakout as closed above its range bound zone.

WPX ENERGY

• Stock was moving in a range bound zone, and has closed above its range. This indicates further price rise can be seen as long as stock holds above 12.46. Its previous resistance will now act a major support for WPX Energy.
• Stock also closed above its 50 days moving average, this indicates as long as stock holds above its 50 DMA bulls will be favored.
• Technical also indicates that their is a sudden increase in volumes with price rise this shows that bulls are currently active in stock. Close Watch.
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