S&P 500 Futures Triangle pattern

• 4 Hour time frame continues to show a contraction pattern. Price yet to make a decisive move.
• Moving average lines in daily chart are crucial. Daily candle closing outside these lines may trigger a bigger directional move.
• GOLD BEARISH PRICE ACTION

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Gold bearish breakdown

 

 

• Gold Month chart shows weakness near Month cloud.
• Weekly chart has broken down from the descending triangle.
• Next support level or target zone for this breakdown is near 1210.

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ES price contraction continues

• ES continues to stay below 50 Day SMA and above 100 Day SMA. So price is stuck between these two crucial moving averages. Daily close outside this contraction may give bigger direction for ES 

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CRUDE Oil Testing pattern resistance zone

• Crude oil testing crucial resistance zone of the inverted head and shoulders pattern.
• One hour chart shows price above support line and 50 Hour SMA. Weakness will be visible if price falls below these levels. Crude oil bulls need price to stay above this level for a bigger breakout to follow.

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S&P 500 Futures support and resistance levels

• ES 4 hour chart shows price contraction. Breakout or breakdown from this pattern should takeout the Moving averages shown in daily time frame for bigger moves to follow.

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GOLD chart analysis

• Weekly chart shows crucial support zone around 1300 levels. Gold bears need price to stay below 1300 for bigger correction to follow.
• 4 Hour time frame is shown with 20 Period SMA. If price moves back and sustains above this line a Swing buy is possible in 4 hour time frame. For bears price need to stay below 1300 levels.

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ES Chart analysis

• 100 Day SMA is crucial for ES Bulls to hold above. If this line is broken then price may test 2115 - 2120 zone. No worries for bulls if price holds above the discussed levels especially 100 SMA.
• CRUDE OIL PATTERNS

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