- Apple hourly chart shows resistance at 100 Hour SMA and Golden ratio.
- Daily chart too is near 100 Day SMA and Daily cloud. These levels must be crossed on closing basis for an up move to happened.
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- ES one hour chart shows price below 200 Hour SMA. This level may act as resistance during up moves.
- Four hour chart shows the cloud base and 100 Period SMA trying to act as support. Unable to break below this level may result in a pullback.
- Weekly candle is sowing weakness near resistance levels shown in the first chart. This may change if price starts to trade above 2402 levels.
- Weakness below 2345 and 20 Day SMA at 2312
- Price testing channel support line in four hour time frame. Yet to close below the support line.
- Price seeking support at four hour ichimoku cloud.
- One hour chart shows price trying to hold above 200 Hour SMA. An hourly close below this level may extend gains for bears of ES.
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SPY SHOOTING STAR
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- SPY Four hour chart has given a shooting star pattern.
- Price is testing the rising support line. This one has to break for the shooting star or inverted hammer to perform well.
- Last chart shows price below 50 Hour SMA. Sustaining below this level may extend the fall for bears of SPY.
- ES Hour chart violating crucial support levels.
- Price must break the channel support line for weakening the up trend.