Stock Market Chart Analysis

May 31, 2014

Apple weekly chart shows price hitting 644 levels. This level has acted as resistance before.
Price also testing 78.6% Around the same level as shown in 2nd chart.
Daily chart shows negative divergence, Price yet to confirm weakness though.

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SBI Weekly chart shows a Dark cloud cover pattern. Opening of the current week's candle is perfect for the pattern, Closing could have been a little bit lower than the current levels to make the pattern more perfect and effective.
Bearish pattern needs confirmation, The stock too is retesting a previous resistance zone which may act as support. Closing below 2470 levels will add strength for the pattern.
Fib levels and 20 Day SMA are immediate support levels. More weakness if price does not hold above them.

Apple weekly chart shows price moving above 78.6% Fib level. Weekly close above this level and 644 level shown in chart 2 will add further strength to apple bulls.
Immediate support at 15 Minutes cloud. Weakness on price sustaining below the cloud.
GOLD TRIANGLE UPDATE

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4 Hour chart shows price continues give lower lows. No strength seen in price yet in this time frame.
for bulls of gold price need to move back above 61.8% for avoiding further correction towards 78.6% Fib level.

ES One hour shows bulls sustaining above the cloud and 50 Hour SMA.
4 Hour chart too is moving in a converging channel. Break below the channel support line and a close below the cloud in One hour time frame can give hope for bears. For now though bulls remain strong.

Infosys gave another big volume bearish daily candle.
Price has violated the weekly previous resistance zone which was expected to act as support now. Week is falling back into the Weekly range. Bears need a weekly close into this range to extend gains further.
Hope for bulls now is in the Approaching golden ratio and the weekly cloud. If price does not bounce at these levels bigger falls can be seen.
Death cross has also done well. Price moved back to 50 Day SMA and got resisted there.

Silver holding on to the support zone shown in daily and weekly chart.
Daily chart started moving down from the cloud. As long as price stays below it trend of silver will remain weak.