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.

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.