July 30, 2016

APPLE Weekend update

  • Apple bulls managed to close another day above 200 Day SMA. Recent attempts like these has failed to sustain above this moving average.
  • Weekly chart also shows a falling resistance line which may stop bulls from a bigger up move from happening. 
  • For a bigger rise price need to sustain above the weekly falling resistance line.

Nifty weekend update

  • Nifty Month chart shows price completing another bullish month. Question is will Nifty bulls form the 6 the Bullish candle.
  • Weekly chart continues to show divergence But price yet to show a lower low. Price continue to inch higher.
  • For next week last candle high 8674 is crucial. Staying above it is bullish. For bears need to do more. For a possible reversal or weakness to confirm price must trade below last weeks candle.