- Crude oil 4 hour chart resting on crucial moving average.
- second chart shows price at rising trend line.
- More weakness on closing below the moving average. Crude bulls must stay above the trend line and moving average to avoid a bigger down swing.
January 17, 2018
- NIFTY Daily and Week is testing the resistance line. Bears need the bearish engulfing in daily chart to take effect. Weekly chart is more crucial. A bearish bearish weekly candle here will strengthen bears.
- Bulls need to save the weekly candle to stop a down swing from happening.
- 10680 and 10660 are possible supports in Nifty. If these levels are broken on daily closing basis then bigger down swing may follow.