- Immediate resistance for Facebook is at the falling 50 Day SMA. If price is able to cross this line on closing basis then a test of 123 and the GAP is area is possible. This area may act as stiff resistance zone.
- Support is near 113 levels.
- Moving averages is showing a possibility of a Death cross.
- For bigger moves price must resolve the range between 113 and 123.
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CRUDE Oil chart update
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- Month candle shows bearish price action. But bulls are seeing some relief in the Lower shadow of the Month candle. with 3 days to go if those are bullish days, the Month candle will look much better for FB Bulls.
- Weekly chart shows price violating 50 SMA and moving back above it. Bulls unable to do a weekly close below this line.
- In daily chart immediate support at 200 SMA. FB Bears need to break this line again to resume bigger correction. For bulls the resistance is at 50 Day SMA.
- CRUDE OIL Weekend update
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- Weekly chart shows a strong trend in place. Price moved above the weekly cloud when it was at 25. After that Price tested the weekly cloud just once. Major trend of the stock will not be tested till price stays above the cloud.
- Daily chart shows good correction in favour of bears but Bulls continues to manage new high's. One such new high and much more is likely to be seen today.
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