- Month Chart is pausing near a possible resistance line.
- Weekly chart is showing slight bearishness with an engulfing pattern, This pattern needs follow up price action to confirm bearishness.
- The levels for bears to conquer are 50 Day SMA in daily time frame, In Week its around 9780 for next week. Week closing below this level will tilt the balance in favour of bears. In month its 9600. But for now bulls need to defend 50 Day SMA. If price stays above this moving average then the bearish view will be negated for now.
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- Facebook in a range of 165 to 174 with centre point at 169 levels.
- Bulls need to stay above 50 Day SMA and 169 level for extending the up trend.
- Weakness on closing below 169 and 50 SMA which may give 165 levels on the downside.
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- Apple testing crucial support levels.
- Closing the day below 154 and 100 Day SMA may further weaken the Bulls.
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- ES 4 Hour chart shows price in another rectangle. In an up trend Rectangles mostly resolve in favour of bulls.
- Hour chart shows price staying above 50 Hour SMA. Immediate weakness if price starts to stay below 50 Hour SMA and 2500 levels.
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- Price trying to hold above the Weekly support line. Staying above 900 should give 940 - 50 levels. Below 900 Bears may get 880 and lower levels.
- Next big move in this stock will be based on the Monthly trend line shown in last chart. If this line holds price should resume the bullish trend of the long term time frame.
- NIFTY CHART ANALYSIS
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- Nifty 4 Hour chart shows price near resistance zone.
- Weekly chart shows bulls recovering from the big bearish candle. It took 5 candles to recover from the One Bearish Week. This mostly shows weakness. But one should consider the prevailing trend before coming to a conclusion.
- Weekly MACD lines are negative for now. But as shown on the left hand side, Price can continue to move up while MACD lines give negative divergence. The Weekly structure will only turn negative if price moves below 9600 levels.
- Immediate weakness if price falls below 10040 levels.
- CRUDE Oil Weekend update
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- Apple Month chart shows price trading near Multi Year resistance line. First touch on the line is marked in 2007. During the past 10 Years price has touched this line three times. Now price is trading near this line again.
- Weekly chart shown with immediate support zone near 155 levels. Weakness in this time frame only if price closes below this level.
- Daily chart has immediate support at 50 Day SMA. Closing below this line may give momentum for Apple Bears.
- CRUDE Oil Weekend update
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