- AAPL on Friday closed at the resistance line.
- Indicators have reached overbought levels.
- Overbought indicator reading near this resistance line has given good short trades as of now.
- So if price gives negative candle near the resistance line then its time to go short again.
- DOW JONES WEEKEND UPDATE
- S&P 500 WEEKEND UPDATE
- Nifty daily chart with the broken trend line
- Price is not able to sustain above this hidden trend line.
- For bulls if they are not move towards 200 DMA they have to stay above this trend line.
- Staying below it will favor bears.
- Bank nifty near 200 DMA and the trend line.
- It will find it tough to cross the confluence of resistance.
- If it manages to cross this level then the next logical target would be the 50% Fib level shown in 2nd chart which is 11660 level.
- Indicators in daily time frame has reached overbought levels which can give some negative or sideways action before the next up move.
- NIFTY WEEKEND UPDATE
