- Apple back to 100 Week sma.
- Weekly chart is closing in on the broken Ichimoku cloud which may act as resistance.
- Around the weekly cloud the gap in daily chart may also be faded completely. This level near the weekly cloud may act as stiffer resistance for Apple.
- GOLD TRIANGLE AND CHANNEL
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4 HOUR CHART
- ES One hour chart shows price falling towards previous resistance level which may act as support to avoid a bigger correction.
- But 4 Hour chart shows the recent corrections from upper bollinger band has resulted in price falling below Middle bollinger band So a bigger correction cannot be ruled out.
- APPLE WEEKEND UPDATE
- GOLD TRIANGLE AND CHANNEL
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- Gold daily chart shows price near the apex of a triangle pattern.
- Second chart shows price testing a possible support line inside the Descending channel. A false breakdown below this support line looks likely. This breakdown also means price violating the 100 Week SMA shown in last chart. For bears of gold need price to close the week below 100 Week SMA which may not happen. Price is likely to take support on 100 Week SMA or close back above it after a false breakdown.
- GLD WEEKEND UPDATE
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- Daily chart shows Support level and 100 Day SMA near 5815 - 5840 zone. If nifty continues to fall the above mentioned levels are likely to be tested.
- Weekly chart shows crucial Fib ratio at 5795 level. and 20 Week SMA at 5826
- Last chart shows immediate resistance levels which are 50 and 20 Day SMA.
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