- ES 4 hour chart shows price moving in a range. Price for now is in the bullish part of the range. 4 Hour chart also shows price above the cloud.
- For bears there is hope as price is nearing a resistance line as shown in last chart. Since this line has worked well so far in daily time frame it may stop bulls from making bigger up moves.
- ES CUP AND HANDLE PATTERN
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- Price near major support levels like 20 week SMA and Rising up trend line.
- For bigger up moves to happen the levels shown with two bearish candles must be crossed. Two bearish candles suggest weakness near this level. Repeated failed attempts to close above this level may give hope for bears.
- ES has moved above the 4 Hour cloud
- This means price has moved out of the Daily range again. Now Bulls should take out the all time high's made recently. Only hope for bears is price failing to clear the recent High's.
- Apple bulls need to stay above 20 Day SMA and 23.6% Fib level to extend gains.
- Fib support at 38.6% Fib level.
- 119 - 121 zone is a strong support zone for the stock. Bears of apple will remain weak above this level.
- Daily time frame shows a failed attempt to stay above the cloud.
- Weekly chart shows price breaking the support line of a bearish pattern.
- Month chart is also violating support levels of a rectangle.
- Next target is at 1.44 levels. If that fails to hold Pound usd may slip towards 1.36 levels in the months to come.
- GBPUSD RISING CHANNEL BREAKDOWN
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- Price moving in a broad range of about 600 points. Recent low of 8612 is crucial. Falling below it may take price towards the Lower end of the range. Bulls may get a bounce if price does not violate the above mentioned level.
- 20 Week SMA and Daily cloud are crucial for bulls to protect. Closing below these levels should result in bigger falls.
- Symmetry of the 4 Hour pattern suggests a possible upper breakout. At the same time break of the rising line may change it in favour of bears.
- Price continues to move within the cloud. Closing outside the cloud may give clue for the next direction.
- Price is near a crucial support resistance zone.
