August 17, 2016

  • ES one hour chart shows crucial support levels at 2173 and 2168 Levels.
  • Price has broken below the rising support line of 4 hour chart.
  • One hour chart shows price below 200 Hour SMA. Bears need price to sustain below 200 Hour SMA for bigger correction to follow.
  • CRUDE OIL SUPPORT AND RESISTANCE LEVELS
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  • 4 Hour chart shows price pausing at previous resistance zone around 46.80 Levels.
  • 50 Hour SMA and Hourly cloud are crucial for the up trend in this time frame.
  • Price need to break and stay above 46.80 levels for extending this up move.
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  • Price at the top of the triangle. For now price is falling from the resistance line. Weakness cna be confirmed only if price starts to close below 20 Day SMA. For a bigger correction price need to stay below 50 Day SMA.
  • Hourly chart shows crucial levels below which bears can gain strength.
  • RELIANCE IS ALWAYS A SPECIAL STOCK FOR ME. I STARTED MY BLOG WITH A RELIANCE POST. READ COMMENTS BY ILANGO SIR AND OTHER OLD TIMERS OF JUST NIFTY. I HOPE THEY ARE ALL FINE AND DOING WELL IN LIFE. FIRST POST OF MY BLOG

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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