CRUDE OIL Analysis

• Crude oil Daily chart is shown with a consolidation pattern after an up move. So this can be a bullish consolidation pattern. But it is also shaping like a Descending Triangle which is bearish. With the bearish weekly candle at the top short term can be negative for crude oil.
• Important support level is between 94 - 95. Breaking and daily candle closing below this level may lead to a bigger correction. Bears need four hour time frame to sustain below the cloud which may result in a fall.
• SPX BOUNCES FROM GOLDEN RATIO