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Bank of America re-tests the support - analysis 01-08-2016
Bank of America shares ended the trades on last Friday lower by (-0.19 point) or (-1.29%) from the previous closure to pass 14.41 level that coincided with 38.2% correction level for the bearish wave from 17.28 to 10.99, comes after a bullish rebound that passed the level 13.40 passing SMAs 50 and 100.
The previous bullish movement came after the stability of the price above the support of the SMAs 50 & 100 with the stability above 14.41 level, which pushed the price to target the resistance level 14.88 represented by 61.8% correction level for the same decline.
Generally; the continuation of the current rise requires the stability above 14.41 resistance to target then the next one 14.88, but the stability of 14.41 will push down the price to retest 13.40 support.
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Apple shares conclude the month below the resistance- analysis 01-08-2016
Apple shares ended trading on last Friday slightly lower by (-0.13 point) or (-0.12%) of the previous closure after facing the pivotal resistance 100.00 that curbed the previous rise, which pushed the price to retest the support of the SMAs 50 and 100 that coincided with testing 96.65 support, these supports pushed the price to face 104.00 resistance level as the (D) point for the shown above harmonic pattern concluding the month of July around thnis resistance.
MoreMidday update for bitcoin 01-08-2016
Bitcoin price keeps its stability below the EMA50 and below the key resistance 669.00, which keeps the negative pressure valid for the upcoming period, waiting for more decline that targets 538.45 followed by 495.00 levels.
MoreMidday update for NZDUSD 01-08-2016
The NZDUSD pair did not show any strong move since morning, to keep its stability above 0.7200 barrier, and as long as the price is above 0.7090 level, the bullish trend scenario will remain valid and active for today, supported by the EMA50, reminding you that our next main target is located at 0.7323.
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