- AAPL four hour chart with support and resistance line.
- Today's up move is stopped at the resistance line.
- Support for the stock is near 354 levels.
- Resistance line and 385 level will act as resistance in case of an up move.
- BROKEN TREND LINE OF GOLD
August 24, 2011
UPDATED CHART FROM BELOW
- Gold has corrected from its high's following the negative divergence shown in four hour chart.
- Now profits for bears will extend only if the trend line in four hour chart gets broken.
- Price falling below 1822 will favor bears of gold.
- SLV BEARISH PRICE ACTION
- Futures should sustain below 4903 for further down moves to happen
HOUR CHART BELOW IS NIFTY FUTURES
- 15 Minutes is moving up in a channel
- Hour is knocking at 50 hour moving average again. (HOUR CHART NIFTY FUTURES)
- Breaking the channel will be negative.
- Hour chart if stays above 50 Hour moving average then nifty will continue to move up in the channel.
- Closing above 5 day high ema will add strength to this pull back.
- Failing to close above 5 day high ema will be negative.
- Indicators are starting to turn positive But they are still in bearish territory.
- Price doing a good breakout above channel resistance line will also help bulls.
- S&P 500 ANALYSIS AFTER CLOSING BELL
- If 20 DMA and 50 Hour SMA gives support 1208 levels looks possible for bulls during this week.
- But one should remember that this consolidation is happening in a down trend. And 20 Day SMA acts as stiff resistance during such trends So we shall see how price reacts from there when it hits it.
- SLV TREND UPDATE
- SLV hour is approaching a gap and 50 Hour moving average.
- So for bears to extend the gain they have to break and close below 50 Hour moving average and the GAP.
- Price staying below 41.19 will be negative.
- Bulls of SLV should hope that the GAP and 50 Hour moving average acts as support.
- SILVER BREAKOUT FAILURE
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