December 18, 2015

Apple Chart analysis before opening bell

  • Apple weekly chart shows a descending triangle pattern. It also looks like a Head and shoulders pattern. The right shoulder got resisted at 50 Week SMA. Now price is likely to test 104-105 zone which is a crucial support. For bigger correction this level must break on closing basis. 4 Hour chart shows immediate support level at 107.30
  • S&P 500 Futures after closing bell

S&P 500 Futures after closing bell

  • ES Daily chart is approaching crucial support zone and Round number near 2000 levels. For a bigger fall bears need to stay below 1980 - 2000 zone on closing basis.