August 4, 2016

Apple chart update

  • Apple weekly chart shows price moving above the falling resistance line. If price sustains above this line longer a bigger up move looks possible. If up move extends next resistance is seen near 112 levels.
  • Daily candles are trying to hold above 200 Day SMA. While last two attempts to stay above this crucial moving average Bulls are spending more time above 200 SMA this time. Having said that if price goes back and closes below 200 SMA bears will become active.

Crude oil cloud update

  • Crude oil one hour is trying to stay above hourly cloud.
  • Bigger time frame 4 hour shows price below the cloud. Since price here is below the cloud the bounce in hour chart is likely a smaller one.

ES back into the range

  • ES 4 Hour chart shows price moving back into the range
  • Price made a failed upper breakout. Then the breakdown seems to be failing as well. If price moves and stay above 100 Hour SMA bulls may gain strength again.

Nifty intraday update

  • 8580 - 8590 is crucial for bulls and bears. Staying above it will make bulls stronger. If price continues to stay below it then chances of testing 8470 levels and lower are higher.
  • for the day 5 Minutes chart shows a crucial line. Breaking above it may give an up move. Unable to break above it may result in correction.

S&P 500 Analysis after closing bell

  • SPX Has managed to close back into the Range. Possible resistance level shown in one hour time frame with golden ratio and 100 Hour SMA. Price if moves above these levels will strengthen bulls for bigger reversal towards new high's.
  • Bears need price to fall back below the range to avoid a bigger up move.