- Apple weekly chart shows price moving above the falling resistance line. If price sustains above this line longer a bigger up move looks possible. If up move extends next resistance is seen near 112 levels.
- Daily candles are trying to hold above 200 Day SMA. While last two attempts to stay above this crucial moving average Bulls are spending more time above 200 SMA this time. Having said that if price goes back and closes below 200 SMA bears will become active.
August 4, 2016
- 8580 - 8590 is crucial for bulls and bears. Staying above it will make bulls stronger. If price continues to stay below it then chances of testing 8470 levels and lower are higher.
- for the day 5 Minutes chart shows a crucial line. Breaking above it may give an up move. Unable to break above it may result in correction.
- SPX Has managed to close back into the Range. Possible resistance level shown in one hour time frame with golden ratio and 100 Hour SMA. Price if moves above these levels will strengthen bulls for bigger reversal towards new high's.
- Bears need price to fall back below the range to avoid a bigger up move.
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