- Apple daily chart shows price violating the rising support line. Daily chart is trading below 50 Day SMA, Next major support is the 100 Day SMA.
- Fib levels shows price testing 23.6%. Daily close below 23.6% Fib level may give an extended fall for apple bears.
- ES Broadening formation
January 10, 2014
- Facebook Hour chart shows price getting rejected at recent swing High.
- Price is nearing 50 Hour SMA and Golden ratio. These levels must be broken for extending the fall.
- Daily chart shows a bearish engulfing pattern. Bearish engulfing patterns are strong reversal patterns but needs confirmation with falling prices on higher volumes.
- Crude oil hour chart shows price continues to create new lows.
- Hourly chart is trending down below the cloud. Pause in fall can be seen only if price starts to trade above the hourly cloud.
- Weekly chart shows price violating the crucial 200 Week SMA. A weekly close below this line may strengthen the bears of crude oil further.
All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.