March 18, 2015

  • ES has moved above the 4 Hour cloud
  • This means price has moved out of the Daily range again. Now Bulls should take out the all time high's made recently. Only hope for bears is price failing to clear the recent High's.

  • Apple bulls need to stay above 20 Day SMA and 23.6% Fib level to extend gains.
  • Fib support at 38.6% Fib level.
  • 119 - 121 zone is a strong support zone for the stock. Bears of apple will remain weak above this level.

  • Daily time frame shows a  failed attempt to stay above the cloud.
  • Weekly chart shows price breaking the support line of a  bearish pattern.
  • Month chart is also violating support levels of a rectangle.
  • Next target is at 1.44 levels. If that fails to hold Pound usd may slip towards 1.36 levels in the months to come.

  • Price moving in a broad range of about 600 points. Recent low of 8612 is crucial. Falling below it may take price towards the Lower end of the range. Bulls may get a bounce if price does not violate the above mentioned level.
  • 20 Week SMA and Daily cloud are crucial for bulls to protect. Closing below these levels should result in bigger falls.

  • Symmetry of the 4 Hour pattern suggests a possible upper breakout. At the same time break of the rising line may change it in favour of bears.
  • Price continues to move within the cloud. Closing outside the cloud may give clue for the next direction.
  • Price is near a crucial support resistance zone. 


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"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore