Crude oil channel and support zone

• Crude oil one hour chart shows price moving down in a bearish channel. Price is heading towards the recent swing low of 43.01. This level has to be held to avoid a bigger fall in crude oil.

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ES resistance levels

 

 

• ES one hour charts with Immediate resistance levels.

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GOLD Channel and Range

• Last chart shows price in a broad range between 1300 -  1377 level. Within this range price is moving in a bearish channel. Immediate resistance at 50 Hour SMA. Sustaining above this line may result in a bounce.

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ES chart analysis

 

• Weekly chart shows price trying to hold on to previous resistance zone. For a bigger fall bears must break and stay below this level.
• Daily chart also shows 38.2% and previous resistance acting as support for now.

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Crude oil Triangles

• First chart of 4 hour time frame shows the larger contraction of crude oil in a triangle pattern. Second chart shows a smaller contraction within the larger one.

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S&P 500 Futures analysis before opening bell

• ES 4 hour chart shows previous support of 2155 acting as resistance. This was also the Golden ratio for the fall from 2189 to 2100 level. More weakness if price fails to stay above 31.8% Fib level shown in 2nd chart. 

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NIFTY Chart update

• Bulls managed to keep price above 50 Day SMA for now.
• Month chart shown with its upper shadow which is crucial for bears to protect. Price moving above 8793 will fade this upper shadow. 
• The bearish PIN in weekly chart will remain intact if the up move stays below the shadow of the candle. Any move into the candles upper shadow will reduce the significance of the candle.
• NIFTY Trend update

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