- Apple hour chart with 50 hour moving average
- Price is testing 50 hour moving average. If price sustains above it we may see an up move. Breaking this moving average will extend gains for bears.
- Today's down move started when price broke down from a small rising wedge pattern in hour chart.
- THE GOLDEN CHANNEL
- Gold four hour time frame with channel formation.
- Price is moving up smoothly inside the channel. Bears will have a chance only if they manage to break the channel.
- As long as price remains above the cloud bulls will be safe to hold on to the long positions.
- ES 30 Minutes chart with support and resistance lines. Violation of these lines may give good direction.
- Hour chart is shown with the recent high low and important high and low points.
- Break of 1311.25 may push ES towards 1296.
- Break above 1325.75 will move price towards 1335 level.
- SPY WEEKEND UPDATE
- Tata Steel is trading close to its support and resistance line.
- Line chart of daily time frame shows price taking support at higher levels. So one can expect an upper breakout to happen.
- If the supporting trend line gets broken on closing basis we can expect good correction in this stock.
- BANK NIFTY TECHNICAL ANALYSIS
- RIMM Daily chart shows a triangle shaped consolidation which can give good direction on a breakout.
- Weekly chart shows price moving up in a narrow channel.
- Considering the trend of the stock an upper breakout in daily chart will extend the gains for bulls.
- SPY WEEKEND UPDATE
