July 5, 2016

  • Crude oil break below the contracting triangle discussed earlier. Now price moving towards the support levels shown in chart 2. 
  • Price continues to trend in 15 Minutes time frame. short term will remain in favour of crude bears till price stay below 15 Minutes cloud. 
  • CRUDE Oil Triangle pattern

  • ES 4 hour reacting from resistance zone
  • One hour chart shows price testing the cloud. ES bears need a close below hourly cloud for bigger correction to happen.


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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