APPLE Gaps down below 50 hour moving average

APPLE HOUR CHART (CLICK TO ENLARGE)

APPLE DAILY CHART

 

• Apple has gaped down and is trading below its 50 hour moving average.
• Important support in daily time frame on closing basis is 318.60
• Up trend in larger time frame will be challenged only if bears manage to close price below 318 level.
• If stock climbs above 50 hour moving average again this GAP will be faded in the day's to come.
• CRUDE OIL CHART ANALYSIS
  
  

DOLLAR Violating its support line

• US Dollar is violating its support line at 79.025
• If day closes below this level dollar will turn negative in the short term
• Next support is at 78.30 in daily time frame.
• CRUDE OIL CHART ANALYSIS
  
  

S&P 500 Futures Before opening bell

• ES showing negative price action in its 30 minutes time frame
• Support zone for today's correction is 1282.75 - 1284.25
• Closing below this area will favour bears.
• INTEL CORP TECHNICAL ANALYSIS
  
• CRUDE OIL CHART ANALYSIS
  
• GOLD MINERS TECHNICAL ANALYSIS
  
  
  

USDJPY Flag pattern

• USDJPY pair is showing a flag and pole pattern in its four hour time frame.
• If goes according to the rules this can give more than 200 pips.
• Break below the support line will make the pattern invalid.

RELIANCE INDUSTRIES in a triangle

• There is a long trade possible in reliance with oversold stochastic and trend line support.
• If the trend line holds the price above it we may get a bounce in reliance.
• Breaking the trend line will be negative and one should have a small stop loss.
• Price sustaining below the trend line will be an opportunity to go short.
• CRUDE OIL CHART ANALYSIS
  
  

BANK NIFTY positive divergence

• Bank nifty if it holds above the trend line shown in first chart will give a small rally towards its 200 DMA.
• MACD Bars are showing positive divergence with price. But price has not shown any positive movement till now. Divergence will start to take effect only if price confirms by making a higher close.
• If bank nifty breaks yesterday's low then positive divergence will start to vanish.
• CRUDE OIL CHART ANALYSIS
  
  

CRUDE OIL Weekly chart analysis

• The second chart shows crude oil breaking out of a triangle in weekly chart.
• Target for this breakout comes at 100.50 approximately.
• But for this to get achieved crude has to break above the two resistance lines shown in chart 1.
• GOLD MINERS TECHNICAL ANALYSIS