February 26, 2016

  • Crude oil 4 hour chart shows a bullish ascending triangle pattern. Price violated the resistance zone but bulls were unable to stay above it. 
  • Daily chart shows previous support zone and Daily Ichimoku cloud acting as immediate resistance. Crude bulls need a daily close above these levels for a bigger up move to follow.



  • Two levels discussed in the morning post managed to stop bulls for now. Bulls need a daily candle closing above these levels for extending the up move. Bears expecting a bearish daily candle at this resistance zone.
-->
  • ES Daily has moved above the crucial resistance zone at 1945 - 50. Now price is approaching a possible supply demand line as shown in chart 2. Bulls need a daily close above this line for a bigger up move to follow. Fib levels also shows the presence of Golden ratio around the same area. So bulls need to show momentum here to extend this up move further.



  • 13300 and 400 are previous resistance levels which may act as support. Golden ratio is also near 13100 levels. Daily continues to give lower lows. Daily close back above 13810 may give mild strength for Bank Nifty.


  • 5 Minutes chart shows a trending move and Price has closed into the resistance cluster or bulls just managed to close above it. Bulls may extend the up move if price stays above the 5 minutes cloud.
  • 4 Hour and Daily chart shows price closing above the resistance zone. Bulls need to sustain above 1945 levels to extend this up move.
-->

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.

Followers

Blog Archive

Powered by Blogger.

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