- ES Four hour charts with resistance levels.
- Price near resistance line and 50 Period SMA which has acted as resistance so far.
- For a trend change to take place price must trade above all these levels and the previous support level which acted as resistance so far.
- JP MORGAN WEEKEND UPDATE
- Crude oil daily chart looks bearish as it stays below 20 and 50 Day SMA.
- But weekly chart is at a crucial support level. 20 Week SMA has given good support when price fell onto it last time. Week candle has given a Doji like formation at 20 Week SMA. If price stays above this line crude oil may turn up again.
- SILVER SUPPORT AND RESISTANCE LEVELS
- Nifty moving towards crucial support levels.
- 200 SMA at 5145.
- Recent low at 5135
- Mid Bollinger Band or 20 Week SMA @ 5129
- 50% Fibonacci level near 5080.
- Perfect scenario for bulls would be an intra week break of these levels and close the week above them thus keeping the bullish scenario intact.
- For bears daily closing below these levels will add strength confirmation on a weekly close.
- S&P 500 WEEKEND UPDATE
- Silver daily chart with support and resistance levels.
- Breakouts above 20 Day SMA is not sustaining.
- Daily candle closing above 32.58 will lead to a bigger up move in silver
- Breaking below 30.98 will be negative and may take silver towards 29 levels.
- APPLE WEEKEND UPDATE
CHART-II
- Apple hits the bollinger band as discussed in the blow chart. For bears price closing below the lower bb line may extend this fall. Closing above it may give a pullback towards 20 Day SMA again.
CHART-I
- APPLE Daily chart closing below 20 Day SMA should target the lower Bollinger band in the coming week.
- MACD sell signal has worked well so far. Price sustaining below 20 SMA should extend the fall towards the next support levels which is shown in the last chart.
- S&P 500 WEEKEND UPDATE
- Price closing the day below 50 Day SMA again is negative for bulls.For gaining momentum bears must break and trade below 1357 for possible targets near 1340.
- 20 Day SMA is crucial resistance. for the up move to resume price must close above 20 Day SMA.
- 2nd chart shows Weekly MACD getting ready for a sell signal. Price must stay below the up trend lien and the horizontal line for the sell signal to confirm.
- 20 Week SMA shown in last chart is a crucial support level.
- JP MORGAN WEEKEND UPDATE
- JPM Daily chart shows a bearish engulfing pattern But price is still above the crucial up trend line. 20 Day SMA is acting as resistance. Breaking the up trend line and trading below42.66 levels will favor bears of JPM.
- Weekly chart too shows a possible MACD sell signal in the making. Price not breaking above 46.49 and breaking the up trend line should favor bears of JPM.
