May 25, 2016


  • ES daily moving towards the resistance zone near 2110 level as shown in first chart. 
  • Month time frame shows candles failing to close above 2110 level. Although price violated this level bulls never manage to close above this zone. For a bigger breakout to happen month need to close above this level. Just a breakout above 2110 is not going to be enough.
  • CRUDE OIL CHART UPDATE
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  • 4 Hour chart shows price near the resistance line of  a Rising wedge pattern. Bears may gain strength if price breaks the support line of the pattern. 
  • CRUDE OIL WEEKLY CHART UPDATE
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  • Nifty moving towards the major resistance zone near 8000 levels. Next hurdle for bulls to cross is 7940. 
  • First chart shows a possible inverted head and shoulders like pattern in Daily time frame which is bullish. Bulls need to stay above the rising blue line. Price falling below this line may weaken the pattern.
  • CRUDE OIL CHART UPDATE
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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