May 10, 2014

APPLE Weekend update

  • Apple daily chart shows price trying to take support at 23.6% Fib level.
  • Weekly chart shows price trying to stay above the Golden ratio and previous resistance level at 575
  • Positive again on moving above 604 which can target 625 levels which is the Monthly upper bollinger band.

SPY Analysis after closing bell

  • SPY Daily chart shows price converging towards the apex of a triangle pattern. Looks like an ascending triangle which is mostly bullish.
  • Price has support at 20 and 50 Day SMA. Price needs to close below these levels on closing basis for bigger moves to happen.
  • Weekly chart shows the up trend continues without 

EURUSD Chart analysis

  • EURUSD Moving towards 200 Day SMA.
  • Price is getting resisted at the Golden ratio.
  • Immediate support at 20 Week SMA. Closing this level will extend the fall for EURUSD.