March 7, 2016

ES Support and Resistance levels

  • ES bulls continues to trend above the rising support line. Daily shows price near 200 Day SMA. If weakness returns near 200 SMA the bigger correction may start.

CRUDE Oil chart update

  • Crude oil testing crucial resistance levels in daily time frame. Falling resistance line and 100 Day SMA may try to help crude bears.
  • Month chart shows a possible reversal set up. But bulls need to stay above January month high which is 38.39 for bigger up moves to follow.