- Apple weekly chart shows price trying to put up the right should of a head and shoulders pattern.
- Daily chart unable to sustain above 200 day sma.
- Last chart shows weekly getting resisted at cloud top. Apple bears need a weekly close below the cloud.
- ES daily at resistance zone.
- 4 Hour chart shows price testing crucial support levels. Bears need a close below 4 Hour cloud.
- Gold one hour chart shows trending down move. Daily chart shows price testing recent swing low. Weekly chart shows a bounce from the crucial swing lows before new lows gets formed so a small bounce cannot be ruled out before multi year lows gets formed.
- 2nd chart shows price testing the rising support line in 50 period SMA. Bears need to stay below this line so that the daily resistance zone starts to show its effects. 4 Hour MACD too shows a negative divergence for bears. Now price need to follow up by breaking the higher low structure so that the negative divergence starts to take effect.
- ES bulls riding strong above the cloud. Immediate rising support of 50 period SMA is also not being challenged. Unless the higher low higher high structure gets changed bears are not going to get bigger corrections.
- Facebook one hour chart shows price testing rising support line.
- Weekly chart shows bearish candle at resistance line.
- For bears price need to stay below the rising support line and 101 levels for a bigger correction to follow.
- ES 4 hour chart continues to maintain the bullish structure with price making higher lows. Rising support line of 50 period SMA is acting as good support so far.
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