April 26, 2016

  • Crude oil 4 hour chart show s price moving in a range between 42 and 44. Bigger moves only when this range gets resolved.
  • Weekly chart shows resistance at 50% fib level Once and if crude bulls passes this level the Golden ratio at 48 is likely to get tested.
  • Immediate support at 4 hour cloud. Rising cloud must be broken for a possible down swing to start. 


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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