October 30, 2017

APPLE Chart update

  • Apple near channel resistance line as shown in Daily time frame.
  • Price and RSI in weekly chart is showing negative divergence.


ES 4 Hour trend update

  • ES 4 Hour continues to stay above the cloud and 100 Period moving average.
  • There was a violation of these levels But bears were unable to close below it. So the trend will remain safe in favour of bulls till price stay above these levels.
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APPLE Weekly chart Analysis

  • Apple Week moved up last week But price is trading close to a crucial resistance line as shown in chart 1.
  • The current up move which is likely to extend further will complete a Triple negative divergence in Weekly chart.
  • Bears must stay cautions as the weekly higher high and low is yet to be broken. Topping pattern can only be confirmed on price making a lower low. Weakness in weekly chart only on falling below 155 and 149 levels.
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