CHART-II (UPDATED)
- Price has broken below 50 Hour SMA and the support line shown in hour chart. Daily chart too shows a bearish candle at the resistance line which confirms weakness in higher time frames. We might see some correction next week.
CHART-I
- For bears price has to break below the support line and 50 Hour SMA.
- Price sustaining above 50 Hour SMA will result in another up move.
- Apple having taken support at 200 SMA has moved towards 50 Day SMA.
- Daily closing above 50 Day SMA will help Bulls to extend this rally.
- APPLE WEEKEND UPDATE
- Crude oil daily is moving up in a channel.
- But price in weekly chart is trading near major resistance lines.
- Major breakout in Crude oil will be possible only if price takes out the resistance line from 147.
- Bearish candles at these levels may give good short trades in crude oil.
- See MCX Crude oil chart below this post
- Hour charts are not showing any weakness yet.
- Price is trending up above 50 Hour SMA and Hourly cloud.
- Resistance line in four hour chart too has broken in favor of bulls
- Next hurdle for bulls is the resistance line in daily chart. Breaking that will strengthen bulls further.
NIFTY FIBONACCI LEVELS
CHART-II (UPDATE)
CHART-I
- Price staying above 50 Period sma of this time frame will favor bulls.
- First attempt to breakout above 200 period SMA faced resistance.
- For bears price should stay below 200 period SMA, if a breakout happens a bigger up move is possible.
- MACD is looking for bulls of Bank Nifty in daily chart. But price is getting rejected at 20 Day SMA.
- For bulls price staying above 5 Day High EMA is a positive from here price may try to breakout above 20 SMA again.
- For bears of Bank Nifty price should close the day below 5 Day High EMA.
- USDINR CHART ANALYSIS
- Price pausing near 200 SMA and multiple resistance lines.
- Its a consolidation after an up move so a continuation of the previous move can be expected. But resistance is strong so it will take stronger bulls to break above this resistance level.
