- ES one hour chart shows price trending up above the trend line.
- 30 Minutes chart shows price above the cloud which will help bulls to extend the up move. 30 Minutes also shows negative divergence with MACD indicator which may give a pullback.
- Daily chart shows price entering a resistance zone. Bulls need a daily close into this zone to confirm further bullishness.
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APPLE UPDATE
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- APPLE's Hammer at 100 SMA has lead it to a possible resistance level near 655 levels.
- Price also near 38.2% Fibonacci level which may act as resistance.
- For apple bulls need to sustain above the hourly cloud for a bigger up move to happen. Price falling back into the cloud may resume the fall.
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APPLE OVERSOLD FORMS A HAMMER
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- SPX Daily closed above 50 and 20 day sma.
- Price closed above Golden ratio as shown in Hourly charts.
- Now the next resistance zone is near the upper end of this trading range between 1467 - 1474. Bulls need a close above this level for a breakout.
