UPDATED CHART
- Ascending triangle has given a breakout. Price managed to close above the resistance level after multiple failures. Bulls if holds above the resistance zone will be able to extend this up move further in the coming week.
- 1st chart shows an ascending triangle in 30 Minutes time frame with failed breakouts. Price closing outside this pattern should give good direction. Ascending triangles mostly breakout on the upside.
- 2nd chart shows strong support at 100 Hour sma which bears should break on closing basis. Breaking the resistance level will extend the primary trend.
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- Facebook one hour chart shows previous resistance level acting as support.
- 38.2% Fib level is also acting as support. For bigger correction price must close below these levels.
- ES one hour chart shows price moving in a range and continues to take support at 100 Hour SMA. Break below 100 Hour SMA may test the range bottom. Crucial support is the 50 Period SMA shown in four hour time frame. Sustaining above this line may lead to more up moves.
- APPLE Chart update
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- Apple weekly chart likely to do a bullish close for this week above 100 Week SMA. Next weekly resistance level is at 545 which is the 50% Fib level and the Weekly cloud Top which is is also near 545. So closing above this level will be bullish for a bigger target. Weakness at these levels may result in a fall back to 500 levels.
- FORD Resistance levels
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- Gold may extend this up move on closing above the cloud and 50 Day SMA. But the alignment of moving averages continue to be bearish. Golden ratio and 200 SMA may act as resistance for gold in the short term.
