November 16, 2016

  • Crude oil 4 hour charts with crucial resistance zone
  • Price shows resistance between 45 and 47 level.
  • Price is testing the 4 hour cloud here. If price manage to stay above the cloud then correction in coming days is likely to be limited followed by a bigger up move. If the current price test at the cloud by bulls fails then bigger correction and test of the recent lows are possible.
-->

  • Possible support levels shown in one hour chart.
  • ES Fib levels shows price falling towards Golden ratio
  • 100 Hour SMA is a possible support line.
  • If bulls unable to keep price above these levels means possible test of 2150 levels.
  • Holding these levels means a bounce from 100 SMA.
-->

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