October 20, 2016


  • 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
-->
  • 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.
-->


Disclaimer

All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.

Followers

Blog Archive

Powered by Blogger.

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