March 7, 2016

  • 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 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.


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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