- Crude oil is trading close to its weekly trend line in daily chart.
- Price is also trading at the lower end of a multi week range in which crude is trading.
- Breakdown and close below this range or trend line will be negative for crude.
- Getting support at the trend line means crude will continue this range.
- APPLE GETS CLOUD SUPPORT
- Apple has taken support on the ichimoku cloud in four hour time frame.
- Price has retraced 38.2% of the recent fall.
- Bulls may become stronger again if price starts to trade above 61.8% level.
- Getting resisted near 50% level may start the next wave of selling.
CHART-II
- ES has given a breakout from the triangle pattern.
- Next resistance level is at 1287.75
CHART-I
- ES 30 Minutes chart is showing a descending triangle pattern
- 4 Hour chart is showing resistance at 1283.50. Price is not sustaining above 1283.50.
- An upside breakout from the triangle pattern should take out 1283.50 and price should sustain above this level for bulls to gain momentum.
- Breakdown below the support line will favour bears.
- US DOLLAR ANALYSIS
- MICROSOFT TECHNICAL ANALYSIS
- A BEARISH APPLE
- Bank nifty is trading in a descending channel pattern.
- Right now a bounce is happening within the pattern.
- 11130 level may act as the resistance for this move.
- The main trend line from will also be a resistance.
- A bigger up move can only happen on a decent breakout above the resistance line.
- SUZLON ENERGY TRIANGLE PATTERN
- US DOLLAR ANALYSIS
