- Apple is nearing the weekly resistance line. For now the resistance line stands around 122 levels.
- Daily chart is developing negative divergence with price and MACD.
- Apple bears need weakness to set in at the Weekly resistance line for the Negative divergence to take effect.
- Apple bulls would argue that there is enough momentum in weekly chart for a possible breakout above the resistance line.
January 25, 2017
- ES Month chart shows another bullish candle being formed. Staying above 2278 can keep the bullishness intact for the current month candle.
- 4 Hour chart shows the latest spike above the resistance zone. If it is a false spike it can result in quick gains for bears.
- 30 Minute chart shows levels below which weakness can set in for the Day.
- Silver near crucial support zone as shown in last chart. Support zone is at 16.74. Price is also trying to stay above 4 Hour cloud and 100 Period SMA for the same time frame.
- Price closing below the cloud and 16.74 may start a down swing in this time frame. On the contrary if price holds on to 100 Period SMA or the cloud base an up move is possible from here.
- ES Analysis after closing bell
- Hindalco daily is trading above the recent resistance zone of 184. Price is moving towards the resistance line of a Broadening wedge.
- Monthly chart too shows price is moving into historic resistance zone between 190 and 200. Note these values are on closing basis for example the Top formed on December 2006 was after a spike towards 225 levels. So there could be explosions above this zone But if Day and Week starts to reverse at this zone this Up move may end.
- NIFTY Nears Descending Triangle support zone
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