APPLE Chart Analysis

• Apple near up trend line and 50 Day SMA. Sustaining above this level may give a bounce towards 590 levels. Breaking below the support line could target 566 levels for the day.

ES Trend update

• ES one hour chart shows price falling below 50 and 200 Hour SMA.
• Four hour chart shows price trying to find support at the cloud. ES bears need price to break below the cloud.
• Last chart shows the inverted head and shoulders pattern which is still valid. Bears need price to stay below the 200 period SMA.
• BAC CHART ANALYSIS

Bank Of America Chart Analysis

• BAC Weekly chart shows price resistance at Middle bollinger band. Weekly close below this level will be negative for bulls of BAC.
• Daily chart shows resistance at 100 Day SMA. Fall will extend on breaking below 50 day SMA.
• Four hour chart shows a channel. Breaking below the channel may target 50 period SMA of four hour chart. Getting support at channel support line may save bulls of BAC from a bigger fall.
• S&P 500 ANALYSIS AFTER CLOSING BELL

CRUDE Oil Update

• Crude oil weekly support at 74 - 75 level.
• Weekly chart forming a bearish M in chart or a Double top pattern which will be effective on closing below 74 levels.
• Death cross of crude oil too continue to do well for bears of CL.
• S&P 500 ANALYSIS AFTER CLOSING BELL

MCX Crude oil update

• MCX Crude oil shows price breakdown from a range.
• Daily chart shows price getting resisted at 20 day SMA. Down trend will remain strong below 20 day SMA.

NIFTY Chart Analysis

• Nifty closed near the crucial price pivot zone of 5180 - 5200 which has seen many price rejections. Being a weekly close day today price has to close above this level and weekly Middle bollinger band to extend the up move.
• Daily chart with Ichimoku cloud shows another attempt to breakout above the cloud. Failure for second time will be negative.
• Bears need price to close below 50 Week SMA for a possible trend change in daily time frame.
• S&P 500 EOD UPDATE

S&P 500 Analysis after closing bell

• Four hour chart shows a confluence of resistance with previous support acting as resistance and Golden ratio combining well to stop the bulls from advancing.
• Daily chart shows price getting resisted near the cloud and closing below 50 Day SMA.
• Weekly chart too reacted from 20 Week SMA With just one more day for the week to end its looking bad for bulls of SPX.
• GOLD UPDATE