February 18, 2018

APPLE Weekend update

  • APPLE Month chart shows price moving into resistance zone.
  • Weekly chart is showing big momentum in favour of bulls.
  • Only time frame that's giving some hope for bears is the Daily one which has a Pin Bar candle. The placement of the PIN BAR is not ideal. It will be good always if the PIN BAR forms above the previous candle, But still if price closes lower on Monday a bigger correction may start.
  • ES Weekend update

ES Weekend update

  • ES Week closed just below the High of previous week candle. That is the resistance level for next week around 2760.
  • Daily bounce continues from 200 SMA, Price managed to close above 50 Day SMA. But the daily candle of Friday's looks a Doji one which give some hope for bears. If Monday close below 50 SMA Then correction may resume.
  • Hour is in a nice bullish channel. If channel lines holds bounce will extend.
  • My Preferred view will be to look for a close below 50 SMA to go short. 
  • ES Hourly bullish "W" Pattern