- Apple bulls trying to stay above 50 day sma. Last attempt to stay above this level was failed. Bulls need a daily close above this level.
- Bulls also need a daily close above the Ichimoku cloud for extending this up move.
- 588 is the immediate resistance in hour chart.
- GOOGLE AT WEEKLY TREND LINE
June 18, 2012
- ES four hour chart shows price contraction in a bearish continuation pattern.
- 200 and 50 period SMA of four hour still favor bulls. Price falling below these lines will favor bears.
- ES Daily getting resisted at the cloud is not a good sign for bulls. For a bigger up move price has to break above the daily cloud.
- Price closed the week above 50 Week SMA as shown in last chart.
- Multiple resistance levels near 5180 - 5210 zone has to be crossed by bulls for a bigger breakout.
- Price is also trading above 200 and 50 SMA. Price falling below these levels on closing basis will be negative for bulls.
- BANK NIFTY WEEKEND UPDATE
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