- Apple one hour continues to look good. Price has to close above the recent swing high above 460 for the up move to continue
- 50 Day SMA is getting tested. Apple bulls need a daily close above it to continue the up move.
- Daily cloud is positioned well for apple bears despite the current up move.
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- ES Four hour chart with a Diamond pattern. Since its forming at the top of the trend this can work as a Diamond top But there are occasions where this pattern has acted as continuation pattern as well.
- Crucial support line to break and close below is the 100 period SMA of four hour chart
- NIFTY Nearing 200 Day SMA.
- Price closed below 78.6% Fib level. Next support levels are 200 SMA and the Swing low of 5548.
- Weekly line chart also shows a support zone between 5564 - 5574. A weekly below this zone will favor bears to extend gains.
- TATA MOTORS CHART UPDATE
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- Tata motors daily chart testing 200 Day SMA.
- Crucial supports to hold are 268 - 269 levels. Below this level price could target the rising support line shown in second chart.
- Today's closing looks good for bears although price narrowly missed a bearish engulfing pattern.
- Price is trading in the bearish part of the channel as shown in second chart and has immediate support at 20 Day SMA or 1538.
- Trading below 1538 price may test the support line of the channel.
- GOLD Daily chart moving towards the daily cloud and Falling resistance line.
- 4 Hour chart is testing its recent swing High. Breakout above this level should lead to the resistance levels shown in daily time frame. For a bigger up move price must sustain above the daily cloud and falling resistance line.
