- Bidu daily has a Death cross But price is also testing the Weekly up trend line. Hint of the next direction may lie in the Range shown in the last chart. The range between 202 and 219. Bigger move is possible once this range gets resolved on closing basis.
- close below 202 then 194 and lower levels are possible. Close above 219 stock may move above 240 levels again.
- Nifty testing its 100 SMA again. For now its showing weakness at this level.
- 2nd chart shows price moving back into the broadening pattern after a breakdown. The low made during last week is crucial. Bears need this level (8269) to broke again for bigger downfalls to happen.
- Weekly chart shows a possible inside candlestick formation. Previous high and low of the weekly candle is yet to break. closing outside this range may give good direction.
- ES 4 hour chart shows price falling towards Range support zone.
- Although the daily candle looks Bad, This price action is happening within the range. So bears need a decisive close below the range and 200 SMA for bigger falls to happen. Otherwise range bound action is likely to continue.
- First chart is 4 Hour time frame which shows price at 50% Retrace level for the current up move.
- One hour chart shows price testing 200 Hour SMA.
- Hourly cloud is seen as immediate resistance. To resume the up move bulls must break above the hourly cloud.
- Death cross of MICROSOFT
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- Microsoft has a death cross and a Bearish head and shoulders pattern in place. Daily chart is getting resisted at 50 Day SMA.
- Crucial support zone between 40.23 - 40.61. Daily close below this zone will strengthen bears further for MSFT.
- APPLE WEEKEND UPDATE
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- First chart of Reliance Industries shows the Daily time frame with clear down trend in place. For now price has given a breakdown from a descending triangle pattern and is getting ready for another bounce towards the falling resistance line.
- If 793 shown in weekly time frame acts as a major bottom or support zone a bigger bounce is possible. If this level does not hold Bears will further gain strength.
- ES Charts show price testing the middle of the range. It is also the 200 Hour SMA and the Golden ratio which is stopping the bulls for now. If price crosses the levels, test of recent High's is possible. Weakness here may lead to range bottom again.
