- Crude oil 4 hour charts with crucial resistance zone
- Price shows resistance between 45 and 47 level.
- Price is testing the 4 hour cloud here. If price manage to stay above the cloud then correction in coming days is likely to be limited followed by a bigger up move. If the current price test at the cloud by bulls fails then bigger correction and test of the recent lows are possible.
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- Possible support levels shown in one hour chart.
- ES Fib levels shows price falling towards Golden ratio
- 100 Hour SMA is a possible support line.
- If bulls unable to keep price above these levels means possible test of 2150 levels.
- Holding these levels means a bounce from 100 SMA.
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- 15 Minutes continues to trend below the cloud. Price for now has reached crucial level as shown in first chart. If 42 - 43 levels are not held the trend below 15 minutes cloud is likely to continue. Crude bears will remain strong if price stays below 200 Day SMA.
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- Crude oil daily has fallen below 200 Day SMA. Crude bears trying hard to keep price below this moving average. Daily close above this line may result in a bounce.
- Next 2 charts shows crucial support zone. Daily close below 43 may take price towards 39 levels.
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- Nifty bounced from 8000 levels as shown in weekly chart.
- Daily chart too shows price bouncing from 200 SMA. Price did violate the line But bears unable to keep price below it.
- For now Bulls erasing most of the Mornings losses.
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- If the lead stay as it is the fall continues.
- 50 Week SMA is getting tested again. Bears need to stay below this line for a bigger fall to follow.
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- Gold 4 hour charts shows price testing crucial support resistance zone. Looks like a topish formation in 4 hour chart But this can change if the support levels discussed is not broken convincingly.
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