- Immediate resistance in daily chart is seen at 100 Day SMA. If daily closes above 100 SMA price may move towards the falling resistance line shown in week and month chart.
- Month chart shows price contraction, For a bigger trending move in Apple price must breakout of this contraction.
- S&P 500 Futures Weekend update
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- Gold Weekly chart has a bearish engulfing pattern.
- One hour and 4 hour is trying to bounce. Strength in one hour chart only if price is able to sustain above 1347 levels.
- 4 Hour chart shows price below the cloud. If the bounce is limited to the bottom of the cloud then Gold bears may resume the fall.
- S&P 500 Futures Weekend update
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- ES one hour and 4 Hour shows slight weakness But nothing like that is seen in weekly chart as price closes above resistance levels.
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- Nifty week shows price moving towards a potential resistance zone in 8654. Daily chart too shows price at potential resistance line. MACD shows possible negative divergence developing But Price yet to show major weakness yet for Nifty bears. Only when price shows weakness Negative divergence will take effect to give a bigger correction.
- For Bulls if price violates the daily resistance line chances are high for it to hit the Weekly target of 8654
- GOLD BEARISH PRICE ACTION
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- The triangles discussed earlier in 4 hour and one hour are yet to resolve. Volatility is likely to increase when price moves out of the triangle.
- Gold 30 Minutes chart shows a strong down move in place. 1320 and 1310 are crucial levels for gold bulls to hold above. Bigger weakness if price starts to trade below 1310 levels.
- SILVER SUPPORT AND RESISTANCE LEVELS
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