- Weekly chart shows price moving towards 20 Week SMA. 20 Week sma is around 8546
- Daily chart shows price closing below 50 Day SMA. Next crucial moving average is 100 Day SMA. 100 SMA Was tested twice recently and saved bulls both times.
- Daily chart also shows number of engulfing patterns. Latest Bearish Engulfing looks perfect
- Month chart is also moving towards an Engulfing pattern. Price breaking and closing below 8470 will strengthen bears.
- ES 4 Hour chart got resisted at 200 period SMA.
- 2nd chart shows crucial support zone. Closing below this level may give bigger falls.
- Price yet to test the daily trend line. Bulls need the trend line to hold to avoid bigger falls.
- Crude oil one hour chart shows price trending down below the cloud
- 4 Hour chart shows price broken below the support zone and moving towards range bottom.
- Price likely to test the recent lows shown in daily chart. As the major trend is down new lows are possible soon.
- ES 4 Hour chart retesting 200 period SMA.
- Broken support line shown in chart 2 is also crucial for bulls to regain momentum.
- Bears for now has to keep price below 200 Period SMA.
- GBPUSD is testing crucial support zone in week and month charts.
- Daily chart continues to give lower lows. Price unable to sustain above daily cloud.
- 1.48 level is crucial for British pound. Close below this level may lead to 1.44 as seen in second chart.
- If the range bottom holds pair may continue to remain in this Multi year Range.
- EURUSD CHART ANALYSIS
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- Support zone shown in 3rd chart is crucial now for bulls and bears. Bigger falls will be possible only on breaking below this level.
- Crucial resistance level on the way up are 200 Period SMA and the broken support zone + Golden ratio combo shown in last chart.
- SPY CHARTS BEFORE OPENING BELL
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- SPY Testing the 100 Day SMA and Daily cloud.
- Price is also near Golden Ratio fib level as discussed yesterday.
- Price also getting closer to daily trend line. Bulls must protect 100 SMA, If price closes below it price may test 200 Day SMA.
- CRUDE OIL CHART UPDATE
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