- 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
All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.