Apple Daily Technical Analysis | 29 November 2017
2017-11-29 05:56 am | Resource: Technical Analysis Section | No Views : 288
Our neutral outlook on US shares, the simple moving average and the slow moving average are both negative crosses and the long term moving average is becoming a resistance zone for the US stock.
Rate of Change The trend line broke during the last trading session last week and is currently trading in a bearish direction and below zero.
It is expected that if the US share is breached at $ 175.42, it might target 186.02 on the other side. If the pair breaks the 171.89 level, the American stock might target $ 169.16.
Support: 170.03 - 164.80 - 155.86
Resistance: 177.80 - 186.02 - 191.34
Wall Street opened higher on Thursday after the US Federal Reserve cut interest rates by 25 basis points to 1.75% -2% due to lower inflation and global economic outlook. The move was first criticized by President Donald Trump, but he later described it as "good." Meanwhile, oil prices rose as reports indicated that Saudi Arabia might not be able to meet demand in the wake of Saudi Aramco attacks and…
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