APPLE Weekend update

• Apple bulls managed to close another day above 200 Day SMA. Recent attempts like these has failed to sustain above this moving average.
• Weekly chart also shows a falling resistance line which may stop bulls from a bigger up move from happening. 
• For a bigger rise price need to sustain above the weekly falling resistance line.

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Nifty weekend update

• Nifty Month chart shows price completing another bullish month. Question is will Nifty bulls form the 6 the Bullish candle.
• Weekly chart continues to show divergence But price yet to show a lower low. Price continue to inch higher.
• For next week last candle high 8674 is crucial. Staying above it is bullish. For bears need to do more. For a possible reversal or weakness to confirm price must trade below last weeks candle.

GOLD Month chart analysis

• Month chart shows previous resistance around 1400 levels. 
• Price also reaching month cloud which may act as resistance.

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ES Range update

• 4 Hour chart and daily chart shows price in a range.
• A Daily close is needed outside this range for a directional move to start. 
• The earnings news so far failed to increase the volatility. Looks like index is yet to decide which way to go.

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USDJPY Chart update

• USDJPY Daily resistance line and cloud acted as resistance for the pair. News event did not take the pair above its daily cloud.
• Now crucial support for the pair is at 100 as discussed in yesterday's post. the 50% Fib level in month chart is at 100. Further weakness for the pair only if price starts to trade below this level.

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CRUDE Oil Inverted Hand and Shoulders pattern

• One hour continues to trend in favour of crude oil bears. All consolidations are resulting in new lows for this time frame.
• Daily chart is near 200 SMA. For now 200 SMA is around 40.40 levels approx. 
• Weekly chart shows the possible formation of an Inverted Head and Shoulders pattern. Current fall if limited to the 200 SMA or around it there could be a reversal to form the right shoulder of the pattern. But if price starts to close below 38 levels this possibility will start to faint. 
• USDJPY Chart Analysis

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USDJPY Chart Analysis

• USDJPY Month chart shows price bouncing from 50% Fib level.
• Daily chart shows price testing the falling resistance line and the Daily cloud. 
• If the bounce in Month chart is to continue the resistance line and cloud is likely to be broken. 
• CRUDE OIL TREND UPDATE

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