November 20, 2012
- Hammer of Apple is doing well so far, APPLE Daily chart moving towards 20 Day SMA and the falling resistance line shown in second chart.
- Daily MACD is showing a buy signal.
- Weekly stochastic too is shown a bullish crossover But one should be cautious as the stochastic lines are still in oversold zone.
- Bigger up moves possible on daily closing above 20 Day SMA and the falling resistance line shown in second chart.
- APPLE WEEKEND UPDATE
- ES Daily chart testing 200 Day SMA.
- 4 Hour chart shows price testing 38.2% Fib level and a crucial support resistance zone. Above this zone price could move towards the falling resistance line shown in second chart.
- Bears need price to fall and trade below 200 Day SMA.
- DOW JONES ANALYSIS AFTER CLOSE
- Dow Jones daily chart shows good reversal move and a closing which is closer to the day's high. But price is yet to reach 200 Day SMA.
- 20 Day SMA and 200 Day SMA is showing a bearish cross, This area will be tough to cross if price gets this far.
- Price resistance between 12977 - 13038 is also near this resistance levels.
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