- APPLE Month chart shows price moving into resistance zone.
- Weekly chart is showing big momentum in favour of bulls.
- Only time frame that's giving some hope for bears is the Daily one which has a Pin Bar candle. The placement of the PIN BAR is not ideal. It will be good always if the PIN BAR forms above the previous candle, But still if price closes lower on Monday a bigger correction may start.
- ES Weekend update
February 18, 2018
- ES Week closed just below the High of previous week candle. That is the resistance level for next week around 2760.
- Daily bounce continues from 200 SMA, Price managed to close above 50 Day SMA. But the daily candle of Friday's looks a Doji one which give some hope for bears. If Monday close below 50 SMA Then correction may resume.
- Hour is in a nice bullish channel. If channel lines holds bounce will extend.
- My Preferred view will be to look for a close below 50 SMA to go short.
- ES Hourly bullish "W" Pattern
February 17, 2018
- Nifty falling back to its 100 Day SMA again. Another test of this line may work in favour of bears to close below it. Then price may fall to the 200 SMA. Bigger trend or the Daily trend will not change unless price close below 200 Day SMA.
- Week has closed right at 20 Week SMA. Difficult to know the direction from here. A bigger bounce may happen or a breakdown below 100 SMA is also possible.
February 16, 2018
- We saw the Second long shadow at the 200 SMA and discussed the possibility of 2700 again But i was not expecting a complete reversal. Its not yet a complete reversal, Week need to close above 2760 for bulls to confirm strength in Weekly time frame. Today's close being a weekly one is crucial for Both bulls and bears.
- Fall below 2689 may trigger a correction today. Staying above the hourly trend line will continue to favour bulls to extend gains.
- ES Hourly bullish "W" Pattern which worked well
- PNB Month chart shows price at crucial support level of 128. If this level is not held then price may fall towards 112.
- Month chart also shows the possibility of a Big Bearish M pattern. For this one to come good price must sustain below 128 and 112 levels.
- Bulls need to sustain above 128 levels to avoid the bearish scenario.
February 15, 2018
February 14, 2018
- IWM Month chart shows the Breakout from the pattern and Price retesting the pattern resistance line. The resistance line of the pattern is now acting as support. This breakout will be invalidated if price falls back into the pattern.
- IWM Week shows support at 50 Week SMA. Bulls are safe if price stays above this line. Next bigger fall when and if price closes below this line.
- Month chart shows the big breakout and Correction which has erased half of the gains for bulls.
- Now weekly chart shows previous high's as possible support zone for this correction. If that zone is not held and price falls back into the pattern then its worse for bulls. Bulls must stay above 2800 levels to avoid bigger bearish possibilities in the coming months.
February 13, 2018
February 12, 2018
- Nifty Daily is testing 100 SMA and the cloud. Trend will become weaker if bulls are unable to hold on to these levels. But the rule of Bull market above 200 SMA continue to be alive. Major threat to the trend only if 200 SMA gets broken on closing basis.
- NIFTY Weekend update
February 11, 2018
- 4 Hour chart continues to look bearish as price stay below the cloud.
- 1325 is a crucial number in 4 hour time frame. Moving above this level a bounce towards 1340 or the 4 hour cloud is possible. Staying below 1325 price will test the 50 Day SMA of daily time frame. Next bigger move of Gold depends on how price is about to react from 50 Day SMA.
- APPLE Weekend Update
- ES Weekend update
- CRUDE Oil Weekend update
- Apple weekly chart shows bounce from support zone 148 - 150. Despite the bounce price continues to stay below 200 Day SMA.
- Hour cloud shows price trending below it. Friday's bounce will have more meaning if it moves past the cloud. Next hurdle will be the 200 SMA in daily time frame. Unable to take out these levels will keep the weakness intact for Apple.
- ES Weekend update