- 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.
- APPLE UPDATE
My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
October 17, 2012
ES Trend update
APPLE Chart update
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEhuk7kuE2pYImlC9Ti4UsJuToDlZYQZ9cMzB3qk0g2DJUGPHPqLN7AYXtPppMIyM8ilQoRCti2M-9w8CPdMpQ3lP-CrxpVZ6r-LnXb8xf24U4mOsI8Q_XXpMROcI-awkhwSG0n0hhNt6e4/s640/apple+one+hour.gif)
- 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.
- APPLE OVERSOLD FORMS A HAMMER
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