- Apple hour charts looks bearish as it trades below 50 and 200 Hour SMA. Any rise from here will find resistance at these levels.
- Day chart is trading near 50 Day SMA. If price takes support at this level we may see an up move in apple. For a bigger up move to happen price need to stay above the levels shown in the last two charts.
April 20, 2012
- Crude oil daily chart shows price contraction and price approaching the apex of the pattern which may lead to a breakout or breakdown.
- Price also near the resistance line of a falling channel.
- An upper breakout can be confirmed on closing above 50 Day SMA.
- Trading below 100.68 may lead to a bigger correction.
- ES one hour chart the channel with 50 Hour SMA. Price sustaining above 50 Hour SMA may lead to the channel top gain.
- Four hour chart shows price getting resisted above 200 period SMA. Bulls need a clear breakout above this level or another correction towards 50 Period SMA of four hour chart can happen.
- S&P 500ANALYSIS AFTER CLOSING BELL