- Apple hour chart has filled a small gap in chart.
- 4 Hour chart is testing the base of the cloud. A Close below this level could extend the fall.
- 4 Hour with 50 period SMA is also looking bad for bulls of apple. If the past price action is to repeat price is likely to break below the recent swing low of 421
- APPLE WEEKEND UPDATE
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- Crude oil hits the triangle resistance line of weekly chart.
- Daily chart is showing some weakness at the resistance line.
- Price is also near the Golden ratio of weekly time frame. Crude oil bulls need a convincing breakout above the triangle resistance line and the Golden ratio for a sustained up move to happen. Price is likely to give a false spike above these resistance line and may start to correct.
- HEWLETT PACKARD TREND UPDATE
- BEARISH ENGULFING BANK OF AMERICA
- APPLE WEEKEND UPDATE
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- Nifty hour chart with fib and Cloud shows reversal attempts.
- Last chart with 30 minutes time frame shows immediate price resistance levels for bulls. Sustaining above 5718 will indicate strength for a possible move towards 5757
- Bank nifty back to 200 Day SMA. For bulls momentum will resume in their favor only if price is able to trade above 200 Day SMA.
- Crucial levels in weekly chart for bulls to hold above on closing basis are 11125 - 11200 and the up trend line from 7766 level.
- Sustaining above 50 Week SMA is also good for bulls of BN.
- TATA STEEL TREND UPDATE
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- Bullish engulfing and oversold status may lead to a bounce in Tata Steel. But price must break and close above the falling resistance line to confirm the bullish pattern.
- One must be careful with longs as the stock is in strong down trend as can be seen from the second chart. Among the last 12 candles from 448 to 300 there was just one green candle and 11 bearish candles.
