- February month candle failed to close near the High's, This will keep the Monthly bearish setup intact.
- Daily chart is contracting in a triangle. The presence of 50 and 100 SMA will make it tougher for bulls to do an upper breakout.
- Breakout is likely to happen in favor of bears because of the Bearish Monthly setup.
- BLACKBERRY Analysis after closing bell
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- Weakness of BBRY at 10.85 in the form of a bearish engulfing may take price towards the range support level at 8.92.
- Immediate support at 20 Day SMA as shown in last chart.
- 2nd chart the weekly time frame shows Price rejection at 50 Week SMA which is bearish. Bulls need to close above 50 Week SMA to negate the bearish view.
30 MINUTES CHART
5 MINUTES CHART
- Tesla 30 Minutes chart shows price in a range. Price is testing the range support zone at 244.
- Daily close below 244 will strengthen Tesla bears for targeting the GAP.
- 5 Minutes chart trading below the falling resistance line. Possible intraday bounce if price starts to trade above this line.
- APPLE Chart analysis
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- Crude oil four hour chart shows price near the rising trend line and testing the 4 hour cloud.
- Price also seen in a range. These rectangles in four hour time frame has given bullish breakouts so far.
- Bank Nifty near 50 day SMA.
- Price also near previous support level (10780) and 38.2% Fib level.
- Weekly candle is looking bullish, Bigger up move possible if price starts to trade above 20 Week SMA.
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- Dow Jones is trading near a crucial resistance line and 78.6% Fib level. For bears its crucial that price shows weakness here. Bears further need a close below 50 day SMA to confirm bearishness.
- Price if continues to stay above 50 Day SMA will clear the above mentioned resistance zone and may take price towards newer High's.
