- First chart is the weekly chart of crude oil with fibonacci levels for the fall from 147 to 33 levels. price is getting resisted at golden ratio. For bulls price need to close the week above this level and trade above 105 for this up move to continue.
- 2nd chart is the daily time frame with 50 Day SMA and the trend line which are important supports for the short term. Trading below these levels will be bearish for crude oil.
- S&P 500 ANALYSIS AFTER CLOSING BELL
- Price has given a breakout But need to sustain above 50 Day SMA.
- Price testing 50 SMA and closing above it will favor bulls. If today's close is below 50 SMA and above 4800 It still favor bulls. Problem for bulls is if price falls back into the range again from which it gave a breakout.
- Price has also closed 5 Day High EMA. So if levels like 4800 or 5 Day high EMA is protected on closing basis Bulls may try to extend this up move towards Ichimoku cloud or 20 Week SMA in the coming day's.
- COPPER TESTING TRIANGLE RESISTANCE
- S&P 500 EOD ANALYSIS
- Upward momentum in hourly chart will be safe as long as price sustains above 50 Hour SMA and 1284 levels. If price falls below these levels then it will be a struggle for bulls.
- Weekly chart shows price struggling near previous weekly top level at 1292. Price should sustain above this level for making progress or to avoid a double top kind of correction.
- Daily chart shows an ascending triangle pattern that can take spx above 1350 levels provided it sustains above 1292 level.
- Important support in daily chart is between 1266 - 1270 level.
- CRUDE OIL TESTING RESISTANCE BAND
- Copper is testing the resistance line of the triangle pattern.
- If price closes the day above 100 Day SMA and out of the triangle then Bullish trades of copper will extend gains. Unable to breakout of the triangle will be negative for bulls. 100 SMA is an important level for bulls of copper to hold on closing basis.
- SILVER RESISTANCE LEVELS
- CRUDE OIL TESTING RESISTANCE BAND
- SILVER Violates the down trend line. But price is still below 50 Day SMA.
- There is a price cluster between 30.90 - 31.20 levels which acted as support previously and may act as resistance now.
- For the up move to sustain price has to trade above 50 Day SMA and the above mentioned price cluster.
- Price Falling back below the down trend line will be bearish.
- CRUDE OIL TESTING RESISTANCE BAND
- NFLX is trading near the top of the cloud and Weekly Middle bollinger band which might act as resistance.
- Daily chart shows possible resistance band between 103 - 107 level. Trading above this band price will target 200 Day SMA.
- PREVIOUS UPDATE ON NFLX
- CRUDE OIL TESTING RESISTANCE BAND
- Crude oil price testing strong resistance levels.
- Weekly chart shows price approaching Golden ration for the fall from 147 to 33 levels. It is also a neckline for an Inverted Head and shoulders pattern.
- Price has to sustain above 105 levels for a possible breakout towards 112 levels to happen.
- SPY TREND UPDATE
