IWM Chart analysis

 

• IWM Daily chart shows crucial support at 96.51 and 20 Day SMA.
• Weekly chart has given a bearish weekly candle but the trend will turn weak only if price starts to trade below 94.96 and 23.6% Fibonacci level.
• APPLE IN A DIAMOND PATTERN

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ES Support and Resistance levels

 

• ES Four hour chart shows 100 Period SMA and Ichimoku cloud as support levels.
• One hour chart shows 100 Period SMA as resistance.
• Price breaking the above mentioned levels on closing basis may lead to bigger moves.
• APPLE IN A DIAMOND PATTERN

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TATA MOTORS Chart analysis

• As the last chart shows Tata Motos is in a broad range. Price testing crucial support at 282 and 50 Day SMA. Bears need a close below these to levels to target 251 levels. Sustaining above 282 may lead  to an up move towards the top of the range at 311.

FACEBOOK Weekend update

 

• First chart shows price closing below 200 Day SMA. This chart also shows this down move started with a Dark cloud cover candlestick pattern which has done well so far.
• 2nd chart shows price not holding a possible support line which is likely to strengthen this down move.
• Only hope for bulls now is the golden ratio. If price takes support around these levels we may see a pullback.
• APPLE IN A DIAMOND PATTERN

S&P 500 Weekend update

• S&P 500 Weekly chart shows negative divergence. Price is showing weakness in weekly time frame but no sell signal yet.
• Daily MACD shows a sell signal but has support at 20 week SMA and price support at 1636. These two levels has to break for a bigger fall to follow.
• One hour chart is trading below the cloud. Bulls may gain strength on moving back above the cloud.
• APPLE IN A DIAMOND PATTERN

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APPLE in a Diamond pattern

 

• Diamond patterns can go both ways. In this case since the pattern has come after a big down move bulls can expect a Diamond bottom.
• If the overhead resistance levels of 100 Day SMA and 20 Week SMA acts strong then this will be a continuation pattern which will help bears to extend the major trend of the stock.
• We may see a decisive breakout/breakdown in the coming week. Weakness below 434 levels and Strength above 453 level.
• FACEBOOK CHART ANALYSIS

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SPY Support and Resistance levels

• SPY 30 Minutes chart shows a range between 163.95 - 165.90. Usually a range after a sharp down move is considered a bearish consolidation. So a breakdown below 163.95 is likely to happen.
• If price moves above 165.90 the cloud and 100 period SMA Shown here may act as resistance.
• SPY SHOOTING STAR

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