- Apple Daily is falling after the bearish engulfing
- Weekly chart is also developing a bearish engulfing pattern.
- Last week candle was a bearish shooting star candle.
- Price will be under pressure as long as it stays below 20 day moving average.
- Bigger falls may be seen if week closes below 325 - 327 level.
- PREVIOUS ANALYSIS ON AAPL
- First chart is four hour time frame with 10 and 21 period moving averages. The candle at the swing low seems to be a powerful reversal candle. If price stays above 10 period moving average we may see trend turning in favor of bulls.
- For bears price should stay below 1290 which is near the Golden ratio in daily time frame.
- SPX ANALYSIS AFTER CLOSING BELL
CHART-II
- Now price should sustain above 5542 level for moving towards 5575 - 5580 level.
CHART-I
- Nifty hour with a bullish consolidation pattern.
- Bull flag will be strong and favor bulls till 5479 is not breached.
- Breaking the resistance line and staying above 5442 will favor bulls.
- For bears breaking the dotted support line inside the pattern will give some profits. But bigger profits only if they manage to break below 5479 level.
- Nifty took support at 20 DMA. But if this level gets tested repeatedly it may not hold.
- At the top ichimoku cloud is acting as resistance. Price unable to pierce the cloud at the moment.
- So it is still in that neutral zone. Lets wait for price to give a clear direction.
- NIFTY WEEKEND UPDATE
- SPX Daily has closed below the support level of 1294
- This is the 4th consecutive bearish candle for SPX. Hour chart is trending down within a narrow channel.
- Only relief for the bulls is the mild positive divergence that is developing in 15 Minutes chart which might result in a small bounce. For any larger bounce price should trade above the narrow channel shown in hourly time frame.
- SPY TREND UPDATE
- SPY 15 Minutes chart with trend line and cloud resistance.
- Bulls shall hope for a trend line break on the upside.
- But the trend will remain down as long as price stays below the cloud.
- ES - LIFE LINE FOR BULLS
- Sloping trend line and the horizontal line in daily chart shown in the first chart may help bulls for a long trade Provided 1290 is not broken.
- Price is also getting support at the Golden Ratio for the rise from 1241.50 to 1373. So this makes 1290 an important level.
- Break of this level will favor bears.
- FORD MOTOR CO TREND LINE BREAK
- BEARISH ENGULFING OF IWM
