- Although Month candle shows a pause It cannot confirm a reversal yet. As price is moving in a range in weekly chart and Daily chart shows price below the cloud. For Bulls of Crude oil price must sustain above the daily cloud for a bigger bounce to happen. Threats of further bigger fall exists on price breaking below the weekly range.
- Facebook bearish engulfing and Target levels
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- Google Weekly chart shows price moving within a channel. Price for now is moving towards the resistance line.
- Daily chart shows immediate resistance at 560. Daily close above 560 should take price towards the upper resistance line.
- Weekly MACD is looking positive. This setup will gain strength if price is able to sustain above 596 levels
- APPLE SELL SIGNAL
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- Facebook weekly chart shows weakness near range top
- Daily candle shows a Bearish engulfing pattern. It is not a complete engulfing. Real body of the previous day's candle is engulfed which is enough to be considered as an engulfing pattern. This is significant because of the weakness near Weekly range top.
- To confirm bearishness though price has to close below 78 levels. Its a sell only below 78 for a possible visit to the Range Bottom near 73 levels.
- APPLE SELL SIGNAL
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- Crude oil 4 Hour chart shows price moving around 200 period SMA. This support zone is the Mid point of a range shown in weekly chart.
- So a bigger move in Crude oil will be possible only when price moves out of the weekly range.
- No Sell signal Yet in MACD Indicator But it looks like we may get one soon. Weakness can only be confirmed if price breaks below 126 level. On seeing yesterday's price action it looks like price will remain in this range with positive bias for today.
- Weekly candle looks interesting for bears. If it closes like this or closer to the current price then there is a possible Doji reversal candle in the making.
- Silver 4 hour chart shows price unable to move above the resistance levels discussed yesterday.
- Price has fallen back into the range as seen in second chart.
- For silver bulls price must sustain above the cloud for a bigger up move to follow.
- Bank nifty at crucial levels. It may move up after testing these levels or bigger weakness can be seen if the levels are not held.
- Bears need a weekly close below 20 Week SMA for bigger falls to happen.
- Bulls may try to defend the rising support line.
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PIN BAR OF BANK NIFTY
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