September 6, 2016

  • Crude oil 4 hour chart shows 43.01 as immediate support level and 46.50 levels as strong resistance.
  • As price stays below 4 Hour cloud Crude bulls will remain weak. Crude bears will be stronger once and if price violates 43 levels.
  • CRUDE Oil Resistance

  • Gold  4 Hour chart shows price moving above crucial support resistance zone of 1335. Falling resistance line around 1345 is the next resistance level. Crossing above this line may result in a trending move. One hour cloud shows gold bulls trying to trend above the cloud.

  • 4 Hour chart shows price near a possible resistance line.
  • If the resistance line is effective then price is likely to move towards the level shown in Daily chart the rising support resistance line and 50 Day SMA is likely to be tested.


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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