January 20, 2017

APPLE Resistance line

  • Apple daily chart is moving towards a resistance line.
  • Price yet to hit the upper resistance line. Weakness from the resistance line and breaking the rising support line may take price towards 110 levels.
  • But the Larger time frame is looking bullish for now. If month sustains above 121 then another visit to 133 levels are possible in the Medium term. 

CRUDE Oil Triangle pattern

  • Crude oil 4 hour shows a Triangle pattern and Price near the resistance line of the triangle.
  • The current bounce started from the support line of the triangle 
  • Last chart shows price also testing 100 Period SMA. Last 2 attempts to move above this line has failed.
  • GOLD Trend update

NIFTY Intraday update

  • Intraday bears need price to stay below 50 Period SMA. Bigger weakness only if price stays below 8373. Below 8373 price may target the GAP between 8293 and 8322
  • For Bulls need a Weekly close above 20 Week SMA or Middle bollinger band. Today being the last trading day of the week Bulls need a close above 8416 which is the 20 Week SMA.
  • CRUDE OIL Support and Resistance levels

CRUDE Oil support and Resistance lines

  • Crude oil 4 hour chart shows the crucial support line holding for another bounce in favour of crude bulls.
  • Crude bulls need to do more as price is approaching the broken 200 Period SMA of 4 hour time frame. Unable to close above this line may resume the correction.
  • GOLD Trend update