- Apple's Monthly Pin Bar continue to look good with the current months Price action. If the close of this month is near current levels or Lower it should form a Perfect reversal setup in monthly chart.
- Week has closed below Middle Bollinger band and could extend the move towards lower Bollinger band.
- Daily too looks good for bears with price closing below 100 Day SMA. If price sustains below this level apple could move towards its 200 Day SMA which is currently at 582 levels.
- DOW JONES WEEKEND UPDATE
October 20, 2012
- SPX Weekly candle lost most of the gains on Friday closing near the bottom of the range.
- Price also closed at 50 Day SMA and 23.6% Fibonacci level.
- Momentum of the last day candle seems to be good for bears for more to come. So a close below this fib level and 50 SMA should accelerate the down move.
- Below 1422 Targets are 1415 and 1395. Price Not breaking below 1422 may save bulls from a larger fall and keep price in a range.
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