CRUDE Oil Bearish price action

• Crude oil breaks the 4 hour cloud.
• Price trading below 20 SMA in daily time frame.
• Crucial level to watch is the big round number at 100. This level acted as resistance recently so it may act as support. If 100 is not held bigger correction is possible.
• TRIANGLE BREAKOUT - BANK OF AMERICA

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Reliance Communication Falling wedge pattern

• Possible bullish setup in Rcom. But price need to close the day above the discussed levels in chart for confirming a breakout.
• AXIS BANK FALLING WEDGE PATTERN

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BANK Of America Analysis after closing bell

• BAC Daily chart shows a Triangle breakout.
• Closing above the recent swing high of 17.42 is likely to take the stock above 18.50 levels.

CRUDE Oil testing support levels

• Price testing crucial support zone at various time frames. Daily close below 20 SMA will be crucial for the trend of crude oil.

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EURUSD Testing major resistance lines

 

 

• Daily chart shows price near the apex of a contracting pattern which is likely to increase volatility for the pair.
• Monthly and Weekly chart shows price testing major falling resistance lines. Bearish weekly candle here may only confirm the weakness.

CRUDE OIL Chart Analysis

• CRUDE Oil daily chart shows weakness at golden ratio.
• Bigger fall only if price starts to trade below the up trend line and 20 Day SMA. Taking support at these levels will keep the up trend intact.

GOLD Resistance levels

• Gold daily chart shows price near recent swing High.
• Bigger weakness only if price starts to trade below 20 Day SMA.
• Gold bears need a bearish weekly candle at weekly cloud for a bigger fall to happen