- APPLE Daily is near 200 SMA
- Indicators in daily chart is showing oversold readings.
- Price is yet to confirm a reversal. Last chart shows a falling wedge like pattern which should help bulls if price breaks and closes above the upper trend line.
- Price sustaining below 200 SMA and breaking below the weekly trend line will be negative for apple.
- SPX WEEKEND UPDATE
- Weekly chart shows possibility of the correction continuing. Daily chart is calling for a bounce from oversold status with price calling at the Golden ratio. But for any turnaround price has to confirm by giving a higher close in hourly charts At the moment price rending down below 20 Hour SMA which should help bears to extend this fall.
CHART-II
- ES could not move above the hourly cloud. Looks like the reversal attempt is about to fail.
CHART-I
- ES Four hour chart shows price testing 20 Period moving average. Bulls need price to close above this level for turning the trend.
- One hour chart shows price pausing at the Hourly cloud. Bulls need a cloud break to turn the trend in their favor. Failing to close above the cloud will be negative for bulls.
- This bounce was started from the Golden ratio in daily time frame So that level has to be held for a short term bottom to be in place.
- ES FIBONACCI LEVELS UPDATED
CHART-II
- ES has given a bounce from Golden ratio. Closing values can only decide if this is the short term bottom or not. So bulls need a higher close to confirm a turnaround.
CHART-I
- ES Daily chart shows price at the golden ratio. A pause candle here may show signs of a turnaround. Closing below this level will strengthen bears.
- Hour chart is yet to show a turnaround. Price is trending down safely below the cloud.
- Nifty hour chart is out of the channel
- Now price has to sustain above 4765 level for this up move to continue.
- Price staying below 4765 will keep the bears interested.
- Nifty closed above Day low EMA, But it is still below Week and Month Low EMA's.
- For bears price need to break below 4700 and the recent low(4639)
- Bulls need to sustain above Day low ema. Price closing below Day Low EMA will be negative.
- ES Four hour chart price trending down below 20 Hour SMA.
- Hour chart too shows strong down move below the ichimoku cloud.
- Every attempt to reverse the trend is being met with selling. There was an attempt to breakout by the bulls, But look how it went down without touching the cloud.
- MICROSOFT WEEKLY TRIANGLE UPDATED
