May 11, 2013

PFIZER Bearish Monthly candle

  • Pfizer monthly chart shows a bearish shooting star candle.
  • Week and Daily charts are approaching crucial support levels like 20 Week SMA and 100 Day SMA. For the bearish Monthly candle to be effective these levels has to break.

APPLE Chart analysis

  • Bullish MACD Cross of Weekly chart is not getting support from price. Price failed to close convincingly above 20 Week SMA.
  • Weekly candle managed to stay above 5 Week High EMA But the candle itself is showing lost momentum of the past two weeks.
  • Daily chart shows price struggling at 100 Day SMA. A fall towards 50 Day SMA may trigger a larger fall in Apple. 
  • Only hope here for apple bulls is the bullish looking Weekly MACD which needs price support in the coming week.

CRUDE Oil chart analysis

  • 5 Minutes chart of crude oil shows an inverted head and shoulders reversal.
  • Daily time frame is nearing the crucial resistance line which has been acting as stiff resistance level for many weeks now.
  • 4 Hour chart shows Ichimoku cloud stopping bigger corrections from happening.