SPY Triangle pattern

• SPY Hour chart with a triangle pattern
• Price approaching the resistance line of the triangle.
• Bears has to protect the resistance line to avoid a bigger up move.
• APPLE CHART ANALYSIS
  

APPLE Chart Analysis

• Apple daily chart shows price below 50 day SMA and Testing 100 Day SMA.
• Daily candle closing below 100 SMA will push the stock towards 200 SMA.
• Important support zone in weekly chart is between 353 - 364 level.

CRUDE OIL Negative Divergence

• Crude oil Four hour chart is moving up with negative divergence.
• Price is not showing any weakness yet.
• For a bigger correction the dotted trend line has to break.

ES Chart Analysis

• First chart is a bullish pattern an ascending triangle.
• Second chart is a continuation pattern in 30 Minutes time frame.
• Breakdown below support line will lead to a correction.
• Breaking the resistance line may take ES towards 1260 levels.

Nifty intraday Update

• Nifty line chart shows price still holding above the breakout level.
• For bears price has to close below 5140 - 5160 levels.
• Candlestick chart shows price testing 20 SMA. Closing below 20 SMA will be negative for bulls.
• RCOM BEARISH ENGULFING
  

SBI Chart Analysis

• SBI got resisted at the weekly resistance line.
• Daily chart is showing a High Volume bearish candle.
• Breaking below 1827 will help bears to continue the down move.
• MACD yet to give a sell in daily chart, a sell signal will strengthen bears.
• Weekly and Daily close below 1827 will favor bears for the coming weeks.
• RCOM BEARISH ENGULFING
  

RELIANCE Communication Analysis

• Rcom is coming down from weekly resistance line.
• Daily chart is showing bearish engulfing pattern.
• Indicators in daily chart may turn in favor of bears in the short term.