July 30, 2013
- 4 Hour chart shows the up move being supported by 50 period SMA. Weakness for the trend only on price falling below this level.
- Daily chart shows price approaching a resistance line.
- One hour chart shows price testing 100 Hour SMA. Weakness on hourly time frame on price falling below this line.
- APPLE Chart update
- Nifty in a possible diamond pattern. The support line can be redrawn for this pattern as Price may do a small bounce from either the Golden ratio or the GAP shown in last chart. Diamonds are mostly bearish patterns.
- Price closed below 200 Day SMA which is a bearish event. If the fall continues below 50% Fib level price may target the Golden ratio or the GAP which is likely to give a bounce.
- Apple daily chart shows price approaching crucial resistance line.
- On a breakout and close above this line, price will move towards the falling 200 Day SMA which is a major resistance level.
- Apple is moving up from long term support levels as shown in the below link of the previous post. So the chances of a bigger breakout looks high.
- APPLE LONG TERM SUPORT LEVELS
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