- Crude oil 4 hour chart shows as if price is walking down a stair. Good looking pattern if you're a crude oil bear.
- No strength in price which may return only if the 200 Day SMA is held. Bigger weakness in crude oil if 200 SMA is not held on closing basis.
- APPLE RESISTANCE LINE AND 200 SMA
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- Apple weekly chart shows price near falling resistance line.
- Daily is trying to stay above 200 SMA. Recent Attempts by bulls to sustain above 200 SMA Has failed.
- Bulls can extend today's gains only if price is able to sustain above 200 SMA and weekly falling resistance line.
- GOLD TRIANGLE PATTERN
- Second chart shows a bull flag in four hour time frame. Pattern mostly works as a trend continuation pattern. There are patterns which give false spikes out of the pattern and followed by trend reversal.
- One hour chart shows 2170 as resistance level. Resistance line for flag is around 2172 levels.
- GOLD TRIANGLE PATTERN
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- Gold 4 hour chart shows price contraction in a triangle pattern. Breakdown from the triangle should take out the support zone between 1300 - 1310 which is marked in daily and weekly charts for bigger falls to happen. Gold bulls need to sustain above 1335 - 1340 for bigger up moves to happen.
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- Nifty 30 Minutes chart shows price trying to hold above a support line. More bearishness only when this line gets broken.
- One hour chart shows price staying above hourly cloud despite recent sideways move. Only a close below hourly cloud will weaken the up trend.
- CRUDE OIL NEARING 200 SMA
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- First chart shows the spike out of the range and price falling back into it. As the trend is strong we cannot confirm this as a false spike out of the range as yet. Bears can gain strength only if price breaks and closes the week below 8476. Only a close below 8476 can change the price action in Day and Weekly charts.
- Month chart is about to complete 5th positive month unless something drastic happens in the next few days.
- After all those bullish charts i am still looking at the negative divergence. Trigger price for negative divergence is 8476. If price stays above it then sideways to positive trend will prevail.
- CRUDE OIL NEARING 200 SMA
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