- Crude one hour chart shows price below a falling resistance line.
- Daily chart is shown with a possible reversal candle pending daily close. A daily close at the current levels or higher may result in a bounce.
- Month chart shows price action happening below Multi-year support zone. Staying below this Crude bulls will remain strong.
- ES CHART ANALYSIS
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- Price testing recent lows. Weekly chart seen testing crucial support zone. Bears need a weekly close to confirm breakdown from the Topping pattern. Bulls need to hold above this zone for a bounce which is likely to keep price within the bearish topping pattern.
- 4 Hour chart shows bears extending gains from the head and shoulders pattern. More bad news for crude bulls if price manage to sustain below 27.57 levels.
- 30 Minutes chart shown as immediate resistance. Bulls need to move above the cloud for a relief bounce to happen.
- Crude oil continues its bearish path. 30 Minutes shows price moving down in a bearish channel. Crude bulls need to break above this channel before price violates 27.57 levels again.
- 4 Hour chart shows a bearish head and shoulder pattern breakdown. Crude bulls need to stay above 27.57 levels.
- First chart shows previous support zone acting as resistance. Bigger strength for Bulls only on price crossing this level, To be specific 7600.
- Bears need price to stay below 7351 and 7242 levels for bigger falls to happen.
- Month chart shows possibility of price extending towards the rising support line on breaching 7242 levels.
- ES Daily range getting violated again.
- 4 Hour chart shows price nearing recent swing low.
- ES 4 hour chart shows immediate support at the cloud. Break below the cloud may test recent lows.
- Bulls need daily to stay above 50% retrace level. Bears need price to fall back below 1850 levels.
- Bulls safe till they stay above 4 hour cloud. Weakness if price falls below the cloud.
