- Crude oil daily chart shows price falling towards previous resistance zone which may act a as support. If price tests this level repeatedly then a bigger correction is possible.
- Price falling below 4 Hour cloud may give a bigger fall this time.
June 17, 2014
Crude oil update
Gold chart analysis
- One hour and Four hour are testing crucial price levels. The signal in daily time frame looks strong so the above support levels may not be held if gets tested again.
BANK Nifty chart update
- Bank nifty daily chart is moving in a range of 1000 points.
- Ranging move is nearing the up trend line from 10064 levels. If the up trend line and the swing low of 14700 is not broken the bulls are safe.
Bank of America Analysis after closing bell
- Daily chart shows a Bullish hammer candlestick at 20 Day SMA. Price has to sustain above 20 SMA For a possible up swing to happen.
- The death cross happened earlier will do well only if price starts to trend down below 50 Day SMA.
- Weekly cloud is trying to protect bulls from bigger falls.
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