June 4, 2015

Apple Hour chart analysis

  • Apple one hour chart shows a descending triangle pattern. For bears price need to sustain below 200 Hour SMA. Fib level also shows price testing 38.2% fib level. This is a crucial level were bulls can also take support and start moving up.

Nifty chart analysis

  • Nifty RSI is moving down below the 70% line. Weekly shows a bearish pattern. For further bigger falls price must sustain below 7960 levels on weekly closing basis.
  • Bot Weekly and Daily RSI is fast approaching oversold levels. If Daily RSI reaches oversold zone before price reaches the support zone there is still hope for an up move for Bulls.