- Week time frame shows price reacting from resistance zone. Crude bears need to do more to confirm weakness in Weekly time frame.
- Day is above 20 Day SMA. Daily close below This line may result in an extended correction.
November 29, 2017
November 28, 2017
November 27, 2017
November 25, 2017
- First chart is the weekly time frame which shows the Huge broadening formation. Bulls are safe till price stay above the resistance line of this pattern. Once and If price falls back into the pattern bigger correction is possible.
- 2nd chart also the Weekly time frame shows possible target level of 156 Provided price stay above 150 levels.
- Weakness in smaller time frames if price fall below 150 levels.
- ES Weekend update
- ES Week chart shows price moving out of the closing range. Week close adds more strength for bulls. More up moves should follow by staying above 2580 levels.
- Immediate support in 4 hour chart is at 2593. Weakness in short term charts if price falls below this level.
- One hour chart shows price moving in a bullish channel.
November 23, 2017
- NIFTY Hour chart shows possible inverted head and shoulders pattern.
- Hourly cloud is crucial support area for bulls.
- Weekly structure is looking good for bulls. Last week candles long tail shows strong support. Weakness can be seen only if price falls below 10230 levels.
November 22, 2017
November 21, 2017
November 19, 2017
- Gold daily trying to stay above 50 Day SMA. Last attempt to stay above this line was failed. Immediate resistance for Gold bulls are 1298 to 1308. If price sustains above this level bigger up move is possible.
- Gold week has an Ascending triangle pattern. Another fall towards the rising support line of the pattern is possible before the big up move can happen. Resistance level for the Ascending triangle is at 1365. If the support line of the weekly pattern works well then price should visit 1365 level soon.
November 18, 2017
- ES Week does another neutral close. Another Doji candle suggests price likely to be Range bound for some weeks.
- Last chart shows price in a possible Flag. Price may remain slightly bearish But if continues to stay inside the Flag another upper breakout from the flag is possible.
November 16, 2017
- ES moved back into the bullish zone
- The Bounce from 200 Period SMA of 4 hour chart. That line was violated only for a while. The violation was only to trap more bears into believing that a real breakdown is about to happen. When enough bears are trapped Market moves up again.
- Immediate resistance at 2485 levels.
- ES 4 hour chart shows price moving back towards the broken moving average and Ichimoku cloud. Bears must keep price below this level to keep the weakness intact.
- One hour chart shows a descending triangle pattern. If price moves back above the falling resistance line Bulls may regain momentum. Bears need price to fall back below the support zone highlighted in one hour chart.
November 15, 2017
- Nifty one hour with cloud shows a down swing in place.
- Last hour shows a possible inverted hammer which is bullish. But this move if it happens will be against the prevailing trend.
- Moving averages also suggesting a strong down move in place, at least till now.
- Price falling towards last week low again. 4 Hour chart too shows 2563 as a crucial price pivot zone. Closing below this zone means a close below 20 Day SMA line in daily time frame. So its crucial for bulls to protect this zone.
- CRUDE Oil chart analysis