- Crude oil weekly chart testing crucial resistance zone near 49 - 51. Weekly chart also shows the cloud as resistance.
- The falling wedge pattern is working in favour of bulls after a false move. Mostly these falls moves are followed by big gains in the opposite direction. Resistance levels for the current up move are 51 and 61 levels.
- ES RANGE FALSE BREAKDOWN
May 24, 2016
- Bank of America daily stands below the falling 200 SMA. More weakness for the stock if price falls below 14.02 levels as shown in daily time frame.
- Structure in weekly is doing a corrective up move for the big fall from 18 levels. Now despite this corrective up move the structure will remain bearish price stays below the rectangle shown in last chart.
- Weekly resistance level is the golden ratio at 15.40.
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.