- ES Four hour chart shows weakness near the upper end of the channel.
- short term top will only be possible if price falls below the support line in 2nd chart or the 50 Period moving average of four hour time frame.
- Holding above these two levels will result in an up move after a small fall or a sideways correction.
- GOLD WEEKLY CHANNEL UPDATE
January 26, 2012
- SPX Month chart shows price at the resistance line.
- Consolidation in hour chart shown yesterday has resulted in another up move. Price is near resistance line of the channel again. If the monthly resistance line is to break then the current hourly structure will not change. another small sideways correction and the up move will continue inside this channel.
- Price keep getting support at or near the hourly cloud. Bears need a cloud break to weaken the bulls.
- APPLE WEEKLY RESISTANCE LINE
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