- Weekly chart shows resistance level at 22.33
- Above mentioned weekly resistance is also the Golden ratio in weekly chart which will make it tougher to cross.
- Daily chart shows price moving up from 50 Day SMA. Recent up moves from 50 SMA has resulted in good moves so this move may target 22.33 level soon.
- EURUSD TREND UPDATE
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DAILY CHART
4 HOUR CHART
- 4 Hour charts shows 50 period SMA and 23.6% Fib level as crucial resistance levels. Sustaining above 23.6% Fib level may lead to a bigger pull back.
- Second chart shows daily chart with 200 DAY SMA. Price yet to test this level. A bottom formation at these levels may lead to a trend reversal.
- ES UPDATE
- ES 30 Minutes shows a range.
- One hour chart shows price testing 50 Hour SMA. Price has to sustain above this level for a breakout to happen.
- Target for range breakdown is shown in the last chart were price may test previous resistance level or 23.6% Fib level shown in 4 Hour Time frame.
- GOOGLE DARK CLOUD COVER
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- Nifty violating crucial fib levels as shown in four hour time frame.
- Price testing 100 Day SMA.
- Bulls need day to close above 100 SMA for sustaining this up move. Remember last fall started from this level So closing above this level should signal strength for bulls.
- Bank Nifty Daily chart shows bearish cross with 20 and 100 Day SMA. These two moving averages may act as resistance levels.
- Week is bouncing from near the Up trend line. One should be careful with longs as weekly chart has a MACD Sell signal.
- Daily chart has given a Bearish Dark cloud cover pattern.
- Negative divergence in daily chart with RSI is also looking good for bears. Crucial point to note is that there is no trigger yet for bears.
- Hourly chart shows a big bearish engulfing pattern and followed by a small range. For bears trigger could be price falling below the GAP which may give a bigger fall.
- APPLE RESISTANCE LEVELS
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