February 10, 2017

  • Crude oil daily and 4 hour chart shows price moving into a resistance zone.
  • Crude bulls need a daily close above the resistance zone for bigger up moves to follow.

  • ES Daily chart shows  a possible rising wedge. 
  • Price testing the resistance line now. If the resistance line stops the up move here then pattern will stay intact.
  • Weakness only if price falls back below 2299 levels.

  • Nifty one hour cloud continues to give support. Price moved above the cloud at 8050 and yet to close below it for this time frame.
  • Staying above 8727 another breakout above 8821 level is possible. Bigger weakness only if price starts to trade below hourly cloud.


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.


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