- Apple Weekly chart shows price staying above the daily range.
- Next resistance in weekly chart is at 78.6% Fib level which is at 637
- Monthly chart too shows the upper bollinger band around the same level as 78.6% Fib so this level may act as resistance confluence.
- Crude oil daily chart shows price nearing the crucial resistance zone near 105 levels. Two chances here either a Triple top or a breakout towards 108-110 levels.
- Weakness only if price starts to trade below 103 levels.
- A consolidation range at the resistance zone may also give hope for Crude oil bears for a possible reversal.
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GOLD TRIANGLE UPDATE
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- Gold Daily chart continues to contract in a triangle pattern.
- Price is nearing the daily cloud which has been acting as resistance.
- As price nears the cloud volatility may increase.
- ES 4 Hour chart shows price nearing recent high's
- Crucial support levels for the day at 78.6% Fib level and the 30 Minutes cloud.
- Pair making new lows in four hour time frame as seen in first chart.
- 2nd chart shows price violating crucial support zone of daily time frame.
- As discussed in the earlier post EURUSD continues to look weak below 200 SMA.
- Nifty daily chart caught in a small range.
- Closing above 23.6% or below 38.2% Fib levels may give good direction.
- Low EMA of daily chart is yet to be tested. If this level is not violated, up move of nifty is likely to continue.
- Sustaining below 200 SMA the correction in EURUSD is likely to extend
- 4 Hour chart too shows price giving new lows on staying below the cloud.
- Strength only if price is able to move back above 200 Day SMA.
