CRUDE Oil trend update

 

 

• Crude oil 4 hour chart shows correction in a bullish channel.
• Crude oil bulls should stay above the 4 hour cloud to avoid a bigger fall.
• Daily chart shows possible support at previous resistance zone.

ES Chart update

• ES 4 hour chart shows price at the resistance zone.
• ES took support at 200 Hour SMA and is back above 50 Hour SMA as well. Weakness if price starts to trade below 50 Hour SMA again.
• No breakout here means price may remain in a range for sometime before a bigger move can happen.
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NIFTY Chart analysis

• Daily chart shows price getting resisted at 50% Retrace and near 100 Day SMA. 
• Second chart shows weakness near the middle of the range. Longer the price stays in the range Bigger will be the direction out of the range. Another two months inside this range may give a bigger direction.
• Weekly chart shows weakness near 5 Week High EMA. Bulls need a close above this level for testing the upper end of the range. Bigger weakness only on trading below 50 Week SMA.
• BANK Nifty Chart Analysis

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APPLE Chart update

• Apple 30 Minutes has closed below the cloud.
• Fall started from daily cloud is testing 100 Day SMA. Closing below 100 SMA may extend the fall towards 515 levels.
• APPLE BEARISH GRAVESTONE DOJI

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S&P 500 Futures before opening bell

 

• ES Testing 200 Hour SMA.
• 4 Hour chart shows price testing 23.6% Fib level.
• Last chart shows price below the cloud in one hour time frame which is bearish. Hourly close below 200 Hour SMA will lead to bigger falls.
• APPLE BEARISH GRAVESTONE DOJI

BANK Nifty Chart analysis

WEEKLY CHART

DAILY CHART

WEEKLY CHART
 

• Bank Nifty Weekly chart shows stochastic reaching oversold zone. No reversal confirmed yet.
• Daily chart is testing falling resistance line. Bulls must trade above this line.
• Weekly chart also shows weakness at cloud. Bulls should do a cloud breakout for a bigger up move to happen. 
• Weakness at the falling resistance line will favor BN Bears.
• AXIS Bank Falling Wedge breakout and Resistance levels

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APPLE Bearish price action

• Apple daily chart shows a bearish candlestick Ichimoku cloud.
• Bearishness can be confirmed if price makes a lower closing today.
• Price is testing 30 Minutes cloud. Weakness if price starts to trade below 30 minutes cloud.
• ES Support levels

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