November 26, 2016

  • Gold weekly chart shows price closing below 100 Week SMA. 1200 level is also broken.
  • Last chart is crucial because 1170 is a crucial support zone. Weekly cloud and Golden ratio is around 1170 Breaking this level will ensure bigger correction in Golden.
  • CRUDE OIL WEEKEND UPDATE
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  • CRUDE Oil ONE HOUR gave double breakdown from a Triangle and 100 Hour SMA. This was followed by quick down move in the shorter time frame.
  • Daily is moving towards 200 SMA again. Last 2 falls below this crucial moving average did not give big results for Crude oil bears. Price likely to test this line again.
  • Last chart shows price in a range between 43 and 48 which in turn is in a larger range between 39 and 52. So range bound move like to continue for next week as well.
  • CRUDE Oil ONE HOUR Analysis
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"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