CRUDE Oil chart update

• First chart shows price still range bound between 50 and 53.
• 4 Hour chart shows a possible bearish pattern getting formed. Crude bears need a close below the black line for bigger correction to follow.

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ES Chart Analysis before opening bell

• ES Daily continues to contract
• For now the closing is above 20 Day SMA.
• Price is nearing the apex of the pattern so Volatility is likely to increase soon. 

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Nifty 15 Minutes and Daily fibonacci charts

• Bulls testing recent resistance levels. Unable to cross these levels means intraday weakness resumes.
• Sustaining above 8460 Bulls likely to target the Golden ratio as shown in Daily fib chart.

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NIFTY Morning update

• Weakness in daily only on closing below 200 SMA and the GAP area. 
• Hourly weakness starts on sustaining below the cloud.
• Strength only on closing into or above 8400 - 8460  zone. the Upper shadows of weekly candles formed from this zone shows possible resistance zone for now. Bulls need a weekly close above this level.

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CRUDE Oil chart analysis

• Crude oil is hitting or testing the resistance levels near 53.50, Price has made its way out of the triangle contraction and If it manages to sustain above the resistance line another bullish move is possible. Weakness starts again if price falls back into the pattern and 100 Period SMA Which is shown in the last chart.
• S&P 500 Futures chart analysis

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ES Chart analysis

• ES Range and Triangles shows price nearing support levels.
• For now price is also staying below 20 Day SMA. But bears has to do more as price is still inside the pattern.
• Taking support at the current levels will keep ES Range bound. 

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NIFTY Weekend update

• Price action shows weakness at 20 Week sma.
• Daily chart shows possible support at the GAP and 200 Day SMA. Bigger weakness if these levels are not held.
• Last chart shows price testing cloud base in one hour time frame. Nifty bears need price to stay below the cloud for bigger correction to follow.

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