ES Support and Resistance lines

• ES 4 Hour near resistance levels. Bulls need a breakout above these levels to extend the up move or else another correction towards the Range bottom can happen. 

CRUDE Oil chart update

 

• Crude oil 4 Hour chart is trying to break above the bullish pattern
• Daily chart shows price yet to reach the main resistance zone.
• The rising support line and the 100 SMA are crucial for this bullish attempt. Crude oil bears need price to fall back below these two levels.

Reliance industries chart analysis

 

• Previous swing low in Weekly chart around 793 saved Reliance bulls from bigger correction.
• Daily chart shows price trying to move out of the bearish falling channel.
• Having said that price is moving towards major resistance levels like 200 SMA and previous broken support levels which may act as resistance.
• So reliance needs to cross 200 SMA and the above mentioned price level for a major trend change to happen.

Silver weekend update

 

• Silver daily chart has strong resistance at Golden ratio and 200 Day sma.
• For the very short term Bulls will be under pressure as its below 4 Hour cloud. 
• 4 Hour cloud may continue to act as resistance.

CRUDE Oil weekend update

 

• Crude oil daily chart holds above 100 SMA.
• Price yet to move out of the daily range.
• Hope for crude oil bulls in the 4 Hour chart. Rising support line must hold for a possible breakout to happen. Price falling below the support line may take price back to range bottom again.

APPLE Weekend update

• Price contraction and sideways move continues in Apple.
• Weekly chart suggests that the contraction is likely to result in an upper breakout. so far it has happened like that, Weakness only if price closes week below 121.3 levels.

EURUSD Weekend Update

• EURUSD Continues to struggle as it nears the daily cloud. 
• 4 Hour chart shown with crucial support zone. If not held bigger falls are likely
• One hour chart is trending below the cloud. Staying below the cloud price will test the support zone shown in 4 Hour chart.