- APPLE Daily chart has a bearish engulfing pattern at the resistance line. Weekly chart shows negative divergence with Price and MACD.
- Hourly chart shows crucial levels. Close below 165 will add strength for the bearish engulfing candlestick. On the contrary close above 169 will negate the bearish setup's discussed in chart 1 and 2.
- FACEBOOK HANGING MAN
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- Bearish Pin Bar in daily chart continues to be valid But bears does not need price to close into the upper shadow of the PIN BAR.
- 4 Hour cloud and 100 Period SMA Continues to act as crucial support for ES Bulls. This support levels must break for a possible down swing to start.
- FACEBOOK HANGING MAN
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- One hour shows a possible rising wedge pattern. Bears hoping this pattern can turn things in their favour But for bulls the trend even in one hour will not be challenged until price stay above the Up trend line and 50 Hour SMA. First signs of weakness only when price closes below 50 Hour SMA.
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FACEBOOK DAILY
- Facebook Daily time frame shows a Hanging man candlestick. Today's correction Adds strength for the candle. Bears need a lower close today to confirm the Hanging Man.
- Hour chart shows immediate support zone between 176 - 177. Bears must close below this level to add momentum.
- Weekly chart too is looking good for Bears so far, But this setup need a close at the current levels or lower to confirm weakness in this time frame.
- ES Analysis After closing bell
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- ES Daily shows a Pin Bar candlestick which is bearish when appears after a strong up move.
- Bears need price to break below the 4 hour cloud and 100 Period SMA for an extended correction to happen. If cloud acts as support then the bearish setup may not give good results. Bulls will regain momentum above 2577 levels.
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- Hourly charts are not showing any weakness yet. First signs of weakness if price break below the trend line or 50 Hour SMA. If that happens then price may fall to the previous resistance line drawn in Daily time frame.
- On the contrary if hour does not show any weakness then the correction may not happen now. since price is close to 50 Hour SMA bulls has to be cautious.
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- Immediate support in one hour time frame is the confluence of support at 38.2% Fib level and 200 Hour SMA.
- 4 Hour chart shows support near 2560. The 100 Period SMA is staying near this level for now. Bears need a close below this line for a bigger correction to follow.
- The Direction of the channel shows the trend in force. Bears unable to draw or see such channels for now.
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