- Crude oil is at a confluence of support and resistance. If the support line shown in 2nd chart is held a bigger breakout is possible.
- Resistance line has worked well so far But after the Initial drop price is likely to test the resistance line again. One has to wait and watch if it holds or price moves past the line towards 52 levels. Weakness below 48 levels.
August 3, 2017
July 27, 2017
- 4 Hour chart shows price breaking above a crucial resistance line. Pattern in four hour is a possible basing formation for further high's. Bullishness will sustain if price continue to stay above 48 levels.
- If price stays above the resistance line then it could target 50 and can also move towards 52 levels. Weakness resumes below 48.
July 25, 2017
- Daily chart shows Alphabet reacting from Daily resistance zone.
- A Down swing can only happen if price sustains below the Hourly cloud.
- Weakness on hour and day on Google closing below 975 levels. Staying below 975 price may target 950 and 935 levels. Bulls need to keep price above the Hourly cloud to avoid this scenario.
July 24, 2017
July 21, 2017
July 20, 2017
- Staying above 2450 levels will continue to favour bulls of ES. Price likely to hit 2500 before it moves below 2450 level.
- Hour chart shows support at rising Ichimoku cloud. Things may turn in favour of bears only if price starts to stay below Hourly cloud. So Hourly cloud crucial support zone for bulls to hold above.
July 18, 2017
- Gold 4 hour chart shows the starting of an up swing. This setup will remain effective till price stay above the cloud.
- Immediate resistance at 1239 levels. Above this price can target 1251 and 1262 levels respectively.
- Weakness if price starts to trade below 1226 levels.
- CRUDE OIL INSIDE AN ARC
July 17, 2017
July 16, 2017
- ES Daily chart shows price moving above 2450 resistance zone. Weakness for This bullish setup only if price starts to close below 2450 zone.
- Second chart shows the failure of Bears to keep price below 50 Day SMA. Those failed breakdowns led to bigger up moves in favour of bulls.
- 4 Hour chart shows immediate support levels 2450 and 2445 respectively for bulls.
- These two charts were shared on May 30. Month chart was shown with Bullish possibility and Hour chart was shown with and Ascending broadening wedge and Price held on to the resistance line before it starts to go down eventually. But the long entry at the Hourly support line worked well. Everything that happened in Hour chart may happen in Month time frame as well.
- This is the difficult part of trading When one expects a sudden reversal it takes its time. When traders expect sideways action it reverses suddenly. Secret is to be consistent with your setup and have stop loss. Sometimes one has to do Multiple entries. For example If you have a 25 point stop loss You should go for a 125 point successful trade. In that way the Good trade takes care of 5 Wrong trades. Sometimes when the trade really goes in you favour it can take care of even 10 Wrong trades. This According to me is the only way to be a successful trader in the long term. One has to build Good habits which is useful for you in the long term.
- Click the link to see the May 30 Post with Month and Hour charts .CLICK HERE;
July 6, 2017
- ES 4 Hour chart shows price near crucial support zone of 2415.
- Daily too has a rising 50 Day SMA as support. Break of these two levels may lead to bigger correction.
- Weekly shows negative divergence. This can either work well for bears with good correction or price may start to move sideways followed by an upper breakout. I am expecting a correction if price start to trade below 2400 levels Targeting 2315 levels.
June 27, 2017
- Nifty daily chart with 20 and 50 SMA shows price falling into the buy zone between 20 and 50 SMA. Weakness for bulls can be confirmed only on daily closing below 50 Day SMA.
- Weekly chart is showing slight weakness with negative divergence. MACD lines too is closing in on a bearish cross.
- If daily closes below 50 SMA Then the weakness is likely to moving into the Weekly chart as well.
June 23, 2017
- Crude oil 4 hour chart shows bearish trend intact.
- The channel and cloud will continue to support bears to take price further downwards.
- Break below 42 likely to take price towards 40 and sub 40 levels.
- For a bigger reversal price must move out of the cloud and channel.
June 14, 2017
- 4 Hour chart shows the immediate support line for the current fall. Current fall is likely to take price below 44 levels.
- Daily chart is showing bigger possibilities for bears. There is a head and shoulder pattern with 2 shoulders. If this goes well for crude bears price may reach levels below 40 in the near term. There could be bounces But the easier target to predict at this juncture is 42 and 40 levels in the short term.
June 9, 2017
- 4 Hour chart shows a head and shoulders Top and subsequent breakdown. The downswing in 4 hour chart will stay effect till price stay below the cloud.
- Weekly chart shows price violating the up trend line from 35 levels and is showing more bearish possibilities. 42 is the crucial level to avoid a bigger breakdown. Immediate level for crude bulls to protect is 45. Below 45 price may fall to 42 levels.
May 30, 2017
- Nifty month shows bigger bulls continues to be strong. Bullish structure will remain intact till price stay above 9100 levels.
- Hour is trying to form a bearish Ascending broadening wedge. This is mostly a bearish pattern, The levels for weakness is shown in 15 Minutes chart.
- 15 Minutes chart shown with immediate support levels. Weakness starts below 9600 and 9560 levels.
May 17, 2017
- Price having closed below 50 Week SMA is finding it hard to move back above this line. 50 Week SMA line and 200 Day SMA on daily chart may continue to act as resistance for the current bounce.
- Immediate strength and weakness can be seen in one hour chart. For now price is staying below One hour cloud which suggests strength for crude Bears.
- S&P 500 Testing resistance zone
May 16, 2017
- Infosys week chart shows a possible bearish pattern forming. Since the Megaphone is forming at the top of an up trend this is likely to be a bearish one. Having said that price is trading close to a crucial support zone so a larger bounce from here cannot be ruled out.
- Bears will gain strength if the support line shown in second chart is violated on closing basis.
- Infosys bears also need to keep price below 200 SMA to keep the weakness intact.