- Apple testing hourly support level near 655
- Price is below 100 Hour SMA and above the crucial 200 Hour SMA.
- Price also above the 4 Hour cloud.
- Crucial levels for apple bears to break are 200 Hour SMA and 4 Hour cloud. Apple bulls are safe above the 4 Hour cloud.
- BANK OF AMERICA CHART ANALYSIS
- ES hour chart near support and resistance lines.
- Price sustaining above the cloud will lead to an upper breakout.
- Breaking below 100 Hour SMA and cloud should give a correction towards 1428 and 1421.
- BANK OF AMERICA CHART ANALYSIS
- JPM up move so far looks corrective and without volume support. Pattern also looks like a bearish Flag. Price is nearing Golden ratio level which may act as resistance.
- Only thing supporting bulls is that price has violated 100 Week SMA. So a weekly close above this level with increasing volume may extend the up move. Unable to close the week above 100 Week SMA Will start the correction.
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BANK OF AMERICA CHART ANALYSIS
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- BAC Month candle is moving above 20 Month SMA.
- Volumes in weekly chart does not support this up move. Price is approaching 100 Week SMA. Only a weekly close above 100 Week SMA with good volume spike can confirm a breakout.
- Price is also about to escape from the weekly cloud. Closing above the cloud will favor bulls to extend the up move.
- NIFTY Moving towards the top of the range (5448).
- Second chart shows another monthly candle trying to stay above 5 Month High EMA. Recent attempts to close above it has failed.
- Last chart shows Price nearing a possible resistance line from 5944 - 5629 - 5448. So nifty closing the week above 5448 may help bulls to extend this up move further.
- HINDALCO CHART ANALYSIS
- HINDALCO and copper shows a multi year Head and shoulders pattern which is yet to give a breakdown.
- Daily chart is showing a counter trend rally which may get stopped near 113 or 115 levels as shown in last chart.
- 115 level has the 50 Day SMA and the falling black resistance line shown in second chart too should be near 115 level.
- Bears of Copper need a close below 106 for further breakdown.
