- First chart is 4 Hour time frame which shows price at 50% Retrace level for the current up move.
- One hour chart shows price testing 200 Hour SMA.
- Hourly cloud is seen as immediate resistance. To resume the up move bulls must break above the hourly cloud.
- Death cross of MICROSOFT
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- Microsoft has a death cross and a Bearish head and shoulders pattern in place. Daily chart is getting resisted at 50 Day SMA.
- Crucial support zone between 40.23 - 40.61. Daily close below this zone will strengthen bears further for MSFT.
- APPLE WEEKEND UPDATE
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- First chart of Reliance Industries shows the Daily time frame with clear down trend in place. For now price has given a breakdown from a descending triangle pattern and is getting ready for another bounce towards the falling resistance line.
- If 793 shown in weekly time frame acts as a major bottom or support zone a bigger bounce is possible. If this level does not hold Bears will further gain strength.
- ES Charts show price testing the middle of the range. It is also the 200 Hour SMA and the Golden ratio which is stopping the bulls for now. If price crosses the levels, test of recent High's is possible. Weakness here may lead to range bottom again.
