- ES testing crucial support zone and moving average
- 4 Hour is trying to hold above 200 Period SMA.
- Price for now is bouncing from this line. Bears will gain further momentum if price closes below this zone.
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