- First chart is the apple daily chart with 50 day moving average. Price has violate 50 day moving average after many months. So the initial fall will be backed by some buying. If price manages to close below 50 dma things will favor bears.
- Hour chart too has violated the cloud in four hour time frame after a long time. If price manages to close below the cloud this too will favor bears.
- ES FIBONACCI LEVELS
My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
March 15, 2011
APPLE Tests 50 Day Moving Average
ES Fibonacci levels
ES WEEKLY CHART WITH FIB LEVELS
- ES Weekly chart shows price violating 23.6% level.
- If price makes a weekly close below this level We will see 1210 - 1220 level which is the 38.2% fib level in weekly chart.
- ES DAILY CHART ANALYSIS
Subscribe to:
Posts (Atom)