June 30, 2016

  • Crude oil 4 hour chart shows price falling from a resistance line
  • One hour chart shows immediate support at ichimoku cloud. More weakness only if price closes below hourly cloud.




 
  • ES continues to trend above 15 Minutes cloud.
  • Month chart shows candle with Long shadow which suggest a big reversal. But as this is the second Last day of the Month the reversal may not be enough. To turn the Month chart Bullish a Month close above 2100 levels is needed.
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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