- Daily chart shows price moving below 200 Day SMA. Closing the daily below 200 SMA will strengthen bears further.
- Weekly chart likely to give a big upper shadow if closes at the current levels or lower. Bulls badly need to close the week higher to avoid such a scenario.
- Hour chart shows price violating the trend line from 182 levels.
- Bulls need to do more here to keep the up move from 180 levels intact If not weakness is getting confirmed at 200 SMA.
- CRUDE Oil support and resistance levels
December 30, 2016
- Crude oil 4 hour chart shows resistance for crude bulls at 54.50.
- 100 Period SMA and cloud are crucial support levels for this time frame. Staying above them another breakout above the resistance zone is possible. Weakness in this time frame on price closing below the cloud.
- GOLD Making another bullish move
- Crucial resistance levels or targets for the current up move is between 50 Day SMA and 8274.
- 50 Day SMA is at 8247 , 200 Day SMA is at 8261 and the recent swing high is at 8274. If the momentum holds price likely to test these levels.
- Price in 15 minutes has to stay above the cloud to keep the momentum intact.
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