October 20, 2016

CRUDE Oil channel and resistance line

  • Weakness in 4 hour chart only if price starts to trade below the channel. 
  • Weekly chart is also testing crucial resistance zone. Crude bears need a bearish candle at this levels for a bigger correction to follow.
  • Things are simple for bulls they need to do a breakout for the weekly head and shoulders pattern .
  • S&P 500 Analysis after closing bell

S&P 500 Analysis after closing bell

  • First chart shows price contraction. Should result in a bigger up or down move from the apex of the pattern. 
  • Immediate resistance at 2140 zone and 100 Day SMA.
  • Support levels are between 2100 and 2120 zone.