CRUDE Oil support and resistance levels

 

• Weakness in one hour if price starts to sustain below 43.35 levels.
• Resistance in 4 hour chart at golden ratio. For bigger up moves price must move above this level which is around 43.92 levels.
• ES Analysis before opening bell

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S&P 500 Futures chart analysis

 

• First chart shows price near resistance line. ES Bulls must do a breakout above 2186 levels for a bigger up move to happen.
• Possible support levels if price starts to fall are 2174 and 2186 levels.
• CRUDE OIL CHART UPDATE

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NIFTY Morning Update

• Daily chart shows a possible rising support line. Confirmation of weakness on daily close below this line.
• Price is testing 20 Day SMA on its way up. More strength for bulls if daily sustains above 20 SMA.
• Month candle so far is giving hope for bears. But those hopes will fade away once and if price starts to trade above last month high which is 8674.
• CRUDE OIL CHART UPDATE

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CRUDE Oil chart update

• Crude oil 30 Minutes and one hour chart shows price trying to stay above 43.35 - 45 Levels which acted as resistance recently. Weakness in smaller time frames if price falls back below this level.
• One hour chart shows a good up move from 200 Hour SMA.
• 4 Hour chart shows the cloud of this time frame shown as crucial support for the reversal attempt.

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ES 4 Hour chart analysis

• Previous range resistance is acting as support which is between 2167 - 2170. 
• 4 Hour chart also shows resistance line which is at 2186 approx for today.
• CRUDE OIL CHART UPDATE

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CRUDE Oil chart update

• Crude oil 4 hour chart shows price trying to stay above the cloud. Crude bulls must stay above this cloud to keep the reversal pattern intact in Weekly time frame discussed earlier.
• One hour chart also shows price moving around 200 Hour SMA. Crucial level to watch is 41.06 staying above which crude oil bulls are safe.

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Nifty intraday update

 

• 4 Hour chart shows a possible support line
• One hour chart shows price holding on to 200 Hour SMA.
• These two levels must go for a bigger fall to happen.

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