March 28, 2018

APPLE Support levels | Price near 200 SMA

  • Apple bulls trying to show strength near 200 Day SMA.
  • Price also staying above crucial retrace levels.
  • Bigger weakness for the stock only on daily close below 200 SMA.
  • Price for now is in a safe buy trade zone with stop loss below 200 SMA. On the contrary bears will be active below 164 levels for a target of 150 levels at least.
  • ES bulls holding on to 200 SMA

ES Charts before opening bell | Bulls holding on to 200 SMA

  • Bulls trying hard to hold above 200 SMA. Price not showing any strength for bulls.
  • Price staying below hourly cloud is advantage bears for now.
  • Having said that if bears are unable to break below 200 SMA Then another bounce is possible. 

ES Charts after closing bell | Price back near 200 SMA

  • Bulls unable to build on the gains from 200 Day SMA. Price for now is back near the crucial moving average again. If price does not move away from this 2585 zone quickly then the threat of a larger breakdown exist.
  • One hour has fallen back below the cloud. In this time frame Any price action below 2600 will be bearish. Unless price make it back above the hourly cloud its advantage bears again.