March 26, 2015
- Price action in weekly chart so far is not encouraging for facebook bulls. Bulls have two more days to correct it. If week closes back into the range then bigger alls are possible.
- Daily candle has engulfed last 3 bullish days. But more weakness needed to confirm the strength of the engulfing pattern. Bears need a close below 82 for bigger falls to follow.
- 15 Minutes chart shows price below the cloud. If it continues to stay there a trending more looks possible.
- Bears need a daily close below the support zone which price is testing now. Daily close below it can give 200 SMA and lower levels as shown in chart 2.
- 4 Hour chart shows bulls trying to protect the support zone. But price if stays below 4 Hour cloud it can result in more selling after a pause or consolidation.
- Crude oil daily chart broke above the cloud. As discussed earlier the cloud resistance was not strong where the daily candle was targeting.
- Weekly chart is trying to form a bullish pattern.
- For crude oil bulls price need to stay above 100 SMA and 54 levels to keep this up move going.
- Crude oil nearing the cloud
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