January 20, 2017

  • Apple daily chart is moving towards a resistance line.
  • Price yet to hit the upper resistance line. Weakness from the resistance line and breaking the rising support line may take price towards 110 levels.
  • But the Larger time frame is looking bullish for now. If month sustains above 121 then another visit to 133 levels are possible in the Medium term. 
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  • Crude oil 4 hour shows a Triangle pattern and Price near the resistance line of the triangle.
  • The current bounce started from the support line of the triangle 
  • Last chart shows price also testing 100 Period SMA. Last 2 attempts to move above this line has failed.
  • GOLD Trend update
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  • Intraday bears need price to stay below 50 Period SMA. Bigger weakness only if price stays below 8373. Below 8373 price may target the GAP between 8293 and 8322
  • For Bulls need a Weekly close above 20 Week SMA or Middle bollinger band. Today being the last trading day of the week Bulls need a close above 8416 which is the 20 Week SMA.
  • CRUDE OIL Support and Resistance levels
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My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore