- APPLE Month chart shows price moving into resistance zone.
- Weekly chart is showing big momentum in favour of bulls.
- Only time frame that's giving some hope for bears is the Daily one which has a Pin Bar candle. The placement of the PIN BAR is not ideal. It will be good always if the PIN BAR forms above the previous candle, But still if price closes lower on Monday a bigger correction may start.
- ES Weekend update
- ES Week closed just below the High of previous week candle. That is the resistance level for next week around 2760.
- Daily bounce continues from 200 SMA, Price managed to close above 50 Day SMA. But the daily candle of Friday's looks a Doji one which give some hope for bears. If Monday close below 50 SMA Then correction may resume.
- Hour is in a nice bullish channel. If channel lines holds bounce will extend.
- My Preferred view will be to look for a close below 50 SMA to go short.
- ES Hourly bullish "W" Pattern
- Nifty falling back to its 100 Day SMA again. Another test of this line may work in favour of bears to close below it. Then price may fall to the 200 SMA. Bigger trend or the Daily trend will not change unless price close below 200 Day SMA.
- Week has closed right at 20 Week SMA. Difficult to know the direction from here. A bigger bounce may happen or a breakdown below 100 SMA is also possible.
- Crude bulls trying a Bullish swing
- Bulls need to stay above hourly cloud and the 20 SMA of 4 hour time frame. Closing below these levels will negate the bullish attempt by crude bulls.
- We saw the Second long shadow at the 200 SMA and discussed the possibility of 2700 again But i was not expecting a complete reversal. Its not yet a complete reversal, Week need to close above 2760 for bulls to confirm strength in Weekly time frame. Today's close being a weekly one is crucial for Both bulls and bears.
- Fall below 2689 may trigger a correction today. Staying above the hourly trend line will continue to favour bulls to extend gains.
- ES Hourly bullish "W" Pattern which worked well
- PNB Month chart shows price at crucial support level of 128. If this level is not held then price may fall towards 112.
- Month chart also shows the possibility of a Big Bearish M pattern. For this one to come good price must sustain below 128 and 112 levels.
- Bulls need to sustain above 128 levels to avoid the bearish scenario.
- ES 4 Hour and Daily is back to recent resistance zone. During the fast fall price bounced from 200 SMA to this zone. If this zone acts resistance another visit towards 200 SMA is possible But for now Bulls are showing some strength.
