- Daily chart shows the steady up move of Apple. Price pausing at the latest resistance zone around 176. Another up move is possible on crossing this zone. But the Weekly chart shows price close to the resistance line. Weakness near the resistance line may give quick gains for Apple bears.
- Weakness can be confirmed if price falls below the cloud on 4 hour chart. If this happens a Down swing is possible. Staying above 176 will continue to favour bulls.
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- One thing is for sure, Crude oil getting ready for explosive moves soon. Direction is likely to be tricky. First breakout outside the triangle is likely to be false one.
- For the short term more weakness if false below 57.50 Levels.
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- ES 4 Hour shows immediate resistance at 20 SMA. Price need to get back above this moving average for new high's again.
- One hour too is below the Ichimoku cloud. Closing above the cloud may result in another new high's for ES.
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- Gold bulls continues to hold above hourly cloud.
- Gold Bulls need to close above 200 day SMA for bigger up moves to follow.
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- Up move in daily chart is running into resistance.
- Bulls must close above 200 Day SMA for bigger up moves to follow.
- Gold bulls will loose momentum If price falls below one hour cloud.
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- Crude oil daily has a triangle shaped consolidation.
- Rising 50 Day SMA is crucial support line for Crude oil bulls.
- Weakness in Weekly can only be confirmed once price closes below 54.20 levels.
- GOLD Weekend update
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- Weekly chart is shown with MACD.
- The reversal Marked with Alphabet A is a straight forward reversal. But This time price action looks like the 1 2 3 Reversal shown on the left hand side. Remember its only similar , It may not be exact. In short we are looking at a possible Triple negative divergence before a major correction could start.
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