- 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.