March 31, 2016


  • Crude oil month chart is trying to form a bullish formation. February Month candle confirmed a pause in selling as price came back to close near the candle high's. March Month though is closing well off the High's which is a worry for Crude bulls.
  • Weekly chart is trying to form a Pin Bar Kind of reversal formation pending confirmation from current week. Bears need current week candle to close near the lows to extend bearishness in to the coming week.
  • Daily chart continues to stay below 200 Day SMA which is a big worry for Crude bulls.


March 30, 2016

 
  • Crude oil month candle shows an upper shadow which suggests loss of momentum for bulls. Weakness also coincided with the presence of 200 SMA in daily chart. So bullish momentum will return only when and if price closes above 200 SMA.

March 29, 2016

 
 
  • ES 4 Hour chart and Daily charts with support levels.

March 26, 2016

  • Gold weekly cloud may act as strong support if price extends correction towards it.
  • For now the Weekly resistance line is working for Gold bears. Gold bulls need to stay above this resistance line for a bigger move to follow.
  • 4 hour chart shows weakness as price stays below the cloud.


 
 
  • Month chart shows a possible bullish month candle pending close. Price closing towards the higher end of the candle should extend this up move towards 50 levels in the short term. Day too needs to close above 200 SMA for this move to materialise.
  • 4 Hour chart shows a crucial support line

March 24, 2016


  • ES 4 hour chart shows price testing the cloud. Cloud has acted as strong support so far. Daily chart too shows presence of 200 SMA around the same levels. So ES bears need to close below these levels for bigger correction to happen.


March 23, 2016


  • Crude oil bulls need to close above 200 Day SMA to extend this up move. Daily also shows price at golden ratio. 
  • Weekly cloud looks like a stronger resistance. Even if price manage to stay above 200 SMA a bigger reversal may not be possible because of the weekly cloud.

March 22, 2016

 
 
  • ES 4 hour chart shows supports in the rising trend line and cloud. Daily time frame shows price entering resistance zone.

March 17, 2016

  • Month chart shows the crucial event of price violating the Multi Year lows, But price managed to close back above 2008 lows. Daily chart shows price approaching 200 Day SMA. If crude bulls managed to close above 200 SMA a bigger up move is possible. 

March 16, 2016


  • ES 4 hour chart shows price above the cloud. Bulls will remain strong if the cloud is protected. Second chart shows weakness near 200 Day SMA. Further weakness if price starts to trade below the levels shown in last chart.

March 15, 2016

  • Crude oil daily chart shows stiff resistance at 38 levels.
  • One hour and 4 hour chart shows support levels. 4 Hour cloud and 36 levels may save bulls from a bigger correction. Further Weakness if price closes below 4 hour cloud



 
 
  • Nifty bulls must move above the cloud and the falling resistance lie to avoid correction. Weakness may return if price starts to trade below 7400 levels.

March 13, 2016

 
 
  • Nifty daily chart with immediate support and resistance levels.

 
  • 4 Hour chart shows immediate support levels. Weakness if price starts to trade below these levels. 
  • Weekly chart shows crucial resistance line. Gold bulls must sustain above this line for bigger up moves to happen.


March 12, 2016

 
  • Daily time frame is trying to show a V shaped reversal or bottom formation in crude oil. But price need to sustain above 38 levels and move above 200 Day SMA to confirm a bottom formation. Last 2 attempts at 200 SMA resulted in good gains for Bears. 
  • One hour cloud acting as good support so far.


March 11, 2016

  • Weekly chart look strong as price sustains above cloud. 
  • First chart shows strong support line of gold. current trend would become weak only if this line is broken.
  • Immediate resistance level at 1300 levels.


March 10, 2016

  • ES Daily shows weakness at 200 Day SMA.
  • 4 Hour chart shows immediate support levels. Weakness below 1966 levels. Up trend of this time frame will be challenged if price falls below 4 hour cloud.


  • Nifty month chart is trading near the Down trend line and the up trend line. For the next big move price need to close above or below these lines.
  • 2nd chart weekly line which shows weakness near 20 Week SMA. So for bulls price has to close and sustain above 20 Week SMA to avoid the trend.
  • Daily chart is trying to stay above 50 Day SMA. Price closing back below 50 Day SMA will strengthen bears again.


Disclaimer

All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.

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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