May 24, 2014

APPLE Weekend update

  • Apple Weekly chart shows price staying above the daily range.
  • Next resistance in weekly chart is at 78.6% Fib level which is at 637
  • Monthly chart too shows the upper bollinger band around the same level as 78.6% Fib so this level may act as resistance confluence. 

CRUDE Oil Nearing resistance zone

  • Crude oil daily chart shows price nearing the crucial resistance zone near 105 levels. Two chances here either a Triple top or a breakout towards 108-110 levels.
  • Weakness only if price starts to trade below 103 levels.
  • A consolidation range at the resistance zone may also give hope for Crude oil bears for a possible reversal.