APPLE Chart update

 

• Apple one hour continues to look good. Price has to close above the recent swing high above 460 for the up move to continue
• 50 Day SMA is getting tested. Apple bulls need a daily close above it to continue the up move.
• Daily cloud is positioned well for apple bears despite the current up move. 

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ES Charts

• ES Four hour chart with a Diamond pattern. Since its forming at the top of the trend this can work as a Diamond top But there are occasions where this pattern has acted as continuation pattern as well.
• Crucial support line to break and close below is the 100 period SMA of four hour chart  

NIFTY intraday update

• NIFTY Nearing 200 Day SMA.
• Price closed below 78.6% Fib level. Next support levels are 200 SMA and the Swing low of 5548.
• Weekly line chart also shows a support zone between 5564 - 5574. A weekly  below this zone will favor bears to extend gains.
• TATA MOTORS CHART UPDATE

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TATA MOTORS Chart update

 

• Tata motors daily chart testing 200 Day SMA.
• Crucial supports to hold are 268 - 269 levels. Below this level price could target the rising support line shown in second chart.

S&P 500 Analysis after closing bell

• Today's closing looks good for bears although price narrowly missed a bearish engulfing pattern.
• Price is trading in the bearish part of the channel as shown in second chart and has immediate support at 20 Day SMA or 1538. 
• Trading below 1538 price may test the support line of the channel.

GOLD Chart Update

 

• GOLD Daily chart moving towards the daily cloud and Falling resistance line.
• 4 Hour chart is testing its recent swing High. Breakout above this level should lead to the resistance levels shown in daily time frame. For a bigger up move price must sustain above the daily cloud and falling resistance line.