- Weakness is seen in weekly chart. Price has to confirm weakness with a weekly close at the current levels or lower.
- 4 Hour chart has to close below crucial support levels shown in chart to extend the fall.
- ES TREND UPDATE
July 24, 2013
- Ebay Daily chart moving towards the buying zone. Some more downside left for the stock. Look for a bottom formation between 49 and 50 to go long.
- Price is below 50 Week SMA which is a concern for bulls. So price has to move back above this level soon to avoid a breakdown.
- Price is testing weekly cloud. Sustaining above the cloud may lead to an up move. Weakness on trading below 49 levels.
- EBAY SELLING ZONE
- NFLX Managed to close the day above its crucial support level of 248. More weakness only on price closing below this level.
- Fib levels shows price taking support at 38.2% Fib level. Strength on price moving back above 23.6% Fib level, Weakness on breaking below 38.2% Fib level.
- Daily chart shows MACD moving towards a bearish cross, For this one to do well price needs to trade below 20 Day SMA.
- APPLE Support and Resistance levels
- Second chart shows price closing at crucial support zone of 418 - 419. Price has reversed from this area as marked in the chart.
- Price is also seeking support from 20 Day SMA.
- Resistance level is between 429 and 431 which are 50 and 100 day SMA respectively. These two has to be crossed on closing basis for a bigger up move to happen
- SILVER Chart analysis
- Gold trying to stay above 50 Day SMA.
- Price testing daily cloud. Gold bulls must break above the cloud for a sustained up move to happen.
- Weekly chart shows price above 23.6% Fib level. For bulls of Gold need a weekly close above 23.6% Fib level to target 1400 or 38.2% Fib level. Price closing back below 23.6% Fib level or 50 Day SMA will be negative.
- SILVER Chart analysis
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