August 3, 2013

APPLE Resistance levels

  • APPLE Resistance levels on closing basis
  • First chart shows price moving above crucial resistance lines.
  • Falling 200 Day SMA may act as resistance. Immediate resistance levels for next week is around 463 levels. Daily close above 463 may lead price towards the 200 Day SMA.

S&P 500 Analysis after closing bell

  • SPX Closed above the horizontal resistance levels.
  • Price nears parallel resistance line.
  • Price is developing negative divergence. Price may violate the channel resistance line before the correction could start.

SILVER Chart update

  • Silver violating the channel of four hour chart. 
  • Price getting resisted at 50 Day SMA. Price has to close above 50 Day SMA For a bigger up move to happen.
  • Trend in daily chart will weaken only if price starts to trade above the cloud.