December 20, 2015

  • Crude oil month chart shows price testing multi-year lows. Weekly chart shows a possible support line which is getting tested. If this line does not hold then CL should test 32 levels soon. If the support line holds then the positive divergence may come into play to give a decent bounce for crude oil.

  • SPX Weekly chart shows price bulls trying to hold above 100 week sma.
  • Fib levels and support zone shown in other charts also shows crucial price level around the same area. So its crucial for bulls to defend this 1990 - 2000 price zone.


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My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore