October 30, 2013
- APPLE Daily chart shows a Bearish engulfing pattern.
- Weekly chart is testing 100 Week SMA A close below this line may confirm the bearish engulfing pattern shown in daily chart.
- Monthly chart too is getting resisted at 20 Month SMA. Unable to close the month above this line may result in a correction.
- DOW JONES TRIPLE TOP AND DOUBLE BOTTOM
- Dow Jones has entered the crucial resistance area.
- Bearish View shows a possible Triple top pattern with indicator entering overbought zone, Problem here for bears is that the indicator is yet to exhaust So it should be a sudden reversal here, If price starts to hang around here it should lead to more upsides.
- Bullish view shows a 1000 Points Double Bottom pattern which is yet to confirm. Closing above this resistance zone may confirm this pattern.
- TESLA Weekly Chart analysis