- Apple weekly chart shows price getting resisted at 100 Week SMA which was broken earlier.
- Confluence of resistance lines shown in second chart may make it tougher for bulls to do a breakout at the current levels.
- Last chart shows price bouncing from 78.6% Fib level. If the lows gets tested again apple may fall towards 400 levels.
- GLD WEEKEND UPDATE
February 16, 2013
- GLD Daily candle looks like a hammer candle near channel support line. Two unfilled gaps may help bulls to extend the up move from Friday's bottom. One negative for bulls is that price is yet to hit the channel support line.
- One more crucial event that favors bears is the weekly close below 100 Week SMA. Any bounce from the current levels may find resistance at higher levels due to this and much lower price cannot be ruled out.
- S&P 500 ANALYSIS AFTER CLOSING BELL
- SPX Daily chart shows price in a small range.
- Weekly chart also has given a SPINNING TOP Suggesting indecision between buyers and sellers.
- Price in weekly chart has hit a crucial resistance line. Weekly RSI Too has reached overbought zone and there is negative divergence between price and RSI which may start to play out from the coming week.
- GOLD FALLING
- First chart shows price still stuck in a range. Last hourly candle showing good momentum for bears.
- Second chart too shows hope for bears as it continue to break the hourly trend lines.
- Last chart shows hope for bulls in 200 Hour SMA. Bears must break below this level for a bigger down move to happen.
- GOLD FALLING
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