- 4 Hour chart of gold shows an ascending triangle pattern
- Daily chart shows price getting resisted at 50 Day SMA.
- Daily close above 50 SMA could give good up moves for gold. For bears of Gold price need to break below the support line of the ascending triangle which may give a correction.
- QQQ Daily below 20 Day SMA.
- Weekly chart below 50 Week SMA
- There is a falling resistance line in weekly chart which may also act as resistance.
- For a bigger up move bulls must cross these levels on closing basis.
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- Hammer of Apple is doing well so far, APPLE Daily chart moving towards 20 Day SMA and the falling resistance line shown in second chart.
- Daily MACD is showing a buy signal.
- Weekly stochastic too is shown a bullish crossover But one should be cautious as the stochastic lines are still in oversold zone.
- Bigger up moves possible on daily closing above 20 Day SMA and the falling resistance line shown in second chart.
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APPLE WEEKEND UPDATE
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- ES Daily chart testing 200 Day SMA.
- 4 Hour chart shows price testing 38.2% Fib level and a crucial support resistance zone. Above this zone price could move towards the falling resistance line shown in second chart.
- Bears need price to fall and trade below 200 Day SMA.
- DOW JONES ANALYSIS AFTER CLOSE
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- Dow Jones daily chart shows good reversal move and a closing which is closer to the day's high. But price is yet to reach 200 Day SMA.
- 20 Day SMA and 200 Day SMA is showing a bearish cross, This area will be tough to cross if price gets this far.
- Price resistance between 12977 - 13038 is also near this resistance levels.
- Gold near 50 day SMA.
- 1736 - 1738 is a possible resistance area as shown in the second chart.
- 4 Hour chart shows price pausing at 50% Fib level. A bigger up move possible if price closes above 50 Day SMA.
- SPX Daily chart back to 200 Day SMA.
- Hour chart with cloud shows price pausing at the hourly cloud.
- If price crosses the above levels we may see a bigger up move possibly towards the falling resistance line shown in last chart and the resistance zone shown in 4 Hour chart between 1397 and 1403.
