March 22, 2017

  • Crude oil 4 hour chart shows price nearing recent swing low.
  • If the swing low at 47 breaks then the weekly trend line may get tested. This should bring crude oil down to 46 levels approx. This zone must break for bigger bearish possibilities.

  • ES  4 Hour chart shows price violating support levels. The shooting start remains the Top for Now.
  • Daily chart is approaching 50 Day SMA. Bigger bearishness if price closes below this line.
  • Month chart shows March month candle developing bearishness. But bears need to close the month like this to confirm bearishness.


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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