- Caterpillar breaking support levels. 86.25 was a crucial support level which is broken.
- Price is approaching an important weekly trend line which may act as support.
- Price has broken below Golden ratio and is moving towards 78.6%. If the up trend line or 78.6% does not hold price may fall towards 67 levels.
- Apple testing 100 Day SMA and crucial support near 548. Closing the day below these two levels will give 528 levels.
- 50 and 20 day SMA is showing a bearish cross. So bounce from the current levels should sustain above 20 Day SMA for avoiding a bigger fall.
- SPY WEEKEND UPDATE
- Hour of gold in a bull flag pattern. For this to breakout in favor of bulls price must sustain above 50 Day SMA.
- Price also testing previous support zone. For bulls price must sustain above this zone and the falling resistance line shown in second chart for a bigger up move to happen
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CHANNEL OF CRUDE OIL
- Crude oil four hour chart continue to fall in a descending channel.
- Price is hitting the support line which may result in a small bounce. A complete reversal may not happen.
- Cloud of four hour is a major resistance zone.
- Hour chart may turn positive above 50 Hour SMA.
- COPPER WEEKLY SUPPORT LEVEL
- Copper hour chart is at crucial weekly support band.
- Break below 3.19 levels may result in bigger falls for copper.
- Hour chart is trying to turnaround and need to trade above the trend line and cloud for a bigger up move to happen. Failure to trade above these levels may result in breaking this crucial support levels.
- All charts shows bearish possibilities.
- For a Trend change price must sustain above 5 Week High EMA or 50 Week SMA.
- Sustaining below 8900 will further weaken BN. Closing below 8900 may take price towards 8100 levels as shown in the last chart.
- ES Four hour chart shows a possible channel support line which must be hold for bulls to have a bounce.
- Daily chart too is trading near its golden ratio which may act as a bounce area.
- SPX ANALYSIS AFTER CLOSE
