- ES one hour near 200 Hour SMA.
- Price near 50% and Golden ratio fib levels.
- ES Four hour cloud too may act as resistance.
- Price advance may continue only if price is able to sustain above 200 Hour SMA.
- CRUDE OIL TRIANGLE PATTERN
June 27, 2012
- Failed pattern gave good correction in favor of bears. Price falling back into the pattern is a good entry for failed patterns.
- Crude oil showing a triangle pattern in Four hour chart. This time frame has Positive Divergence Which was shown in the previous crude oil post.
- Up move may find resistance near 80.81 level and 100 Hour SMA.
- Week chart shows strong support near 74 - 75 level. Doji candles near the support level may favor bulls for a reversal.
- CRUDE OIL POSITIVE DIVERGENCE