May 26, 2016

  • Crude oil 4 hour chart shows weakness at the resistance line of the rising wedge pattern.
  • More weakness only if price sustains below 49.20 levels as shown in second chart.
  • S&P 500 BEARISH UPPER SHADOWS OF MONTHLY CANDLES
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  • Twitter weekly in a strong down trend.
  • Hope for bulls in daily time frame if price stays above 13.91. If price does not close below this level the GAP may soon be faded. On the contrary a daily close below 13.91 should take price below 10.
  • S&P 500 BEARISH UPPER SHADOWS OF MONTHLY CANDLES
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  • 4 Hour chart shows crucial numbers for bulls to break above. Sustaining below these levels may lead to weakness.
  • One hour chart may turn weak if price starts to trade below 2082 levels.
  • S&P 500 BEARISH UPPER SHADOWS OF MONTHLY CANDLES
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  • First chart shows daily line chart. There has been 7 attempts to close above 7960 - 8000 levels from September 2015 and only once bulls were able to close above this zone. Price is moving towards this resistance zone after breaking above the falling resistance line shown in weekly chart. So if  bulls are able to do multiple attempts to cross this zone they are likely to be successful. There could be correction as well towards the recent swing lows but as of now the structure in daily is bullish. Bigger weakness only if price breaks below 7700 levels again.
  • S&P 500 BEARISH UPPER SHADOWS OF MONTHLY CANDLES
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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