- ES Four hour chart shows weakness near the upper end of the channel.
- short term top will only be possible if price falls below the support line in 2nd chart or the 50 Period moving average of four hour time frame.
- Holding above these two levels will result in an up move after a small fall or a sideways correction.
- GOLD WEEKLY CHANNEL UPDATE
- Silver weekly candle is moving up towards 50 Week SMA.
- If price holds 38.2% Fib level it should target 50 Week SMA and the weekly down trend line.
- Price falling below 38.2% Fib level or below 32.30 levels will be negative for bulls of silver
- GOLD WEEKLY CHANNEL UPDATE
- Gold has given a breakout above the slopping resistance line in weekly chart.
- Price is moving towards the resistance line of the channel.
- Resistance for the current week is around 1760 levels.
- SPX ANALYSIS AFTER CLOSING BELL
- SPX Month chart shows price at the resistance line.
- Consolidation in hour chart shown yesterday has resulted in another up move. Price is near resistance line of the channel again. If the monthly resistance line is to break then the current hourly structure will not change. another small sideways correction and the up move will continue inside this channel.
- Price keep getting support at or near the hourly cloud. Bears need a cloud break to weaken the bulls.
- APPLE WEEKLY RESISTANCE LINE
