January 29, 2016

ES Chart update

  • ES 4 hour chart shows an ascending triangle breakout. pattern will remain strong above 1900 levels.
  • ES weekly is bouncing from the base of semi circle. Price likely to move towards the outer edge of semi circle.

Crude oil support resistance line

  • Previous support line shown in daily chart is acting as resistance. Crude bulls need to move and sustain above this line for a bigger bounce to happen.