July 17, 2016

  • Immediate resistance in daily chart is seen at 100 Day SMA. If daily closes above 100 SMA price may move towards the falling resistance line shown in week and month chart.
  • Month chart shows price contraction, For a bigger trending move in Apple price must breakout of this contraction.
  • S&P 500 Futures Weekend update

  • Gold Weekly chart has a bearish engulfing pattern.
  • One hour and 4 hour is trying to bounce. Strength in one hour chart only if price is able to sustain above 1347 levels. 
  • 4 Hour chart shows price below the cloud. If the bounce is limited to the bottom of the cloud then Gold bears may resume the fall.
  • S&P 500 Futures Weekend update


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My Favourite Quote

"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