Stock Market Chart Analysis

March 22, 2017

Crude oil 4 hour chart shows price nearing recent swing low.
If the swing low at 47 breaks then the weekly trend line may get tested. This should bring crude oil down to 46 levels approx. This zone must break for bigger bearish possibilities.

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ES 4 Hour chart shows price violating support levels. The shooting start remains the Top for Now.
Daily chart is approaching 50 Day SMA. Bigger bearishness if price closes below this line.
Month chart shows March month candle developing bearishness. But bears need to close the month like this to confirm bearishness.

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Crude oil price contraction in a triangle. Price staying below the cloud may favour crude bears.
Immediate support and resistance levels shown in last chart. Violating these levels on closing basis may lead to bigger moves.

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Nifty weekly chart staying above 8900 will continue to favour bulls.
Month candle too shows a bullish March candle so far. March closing above the shaded resistance level will strengthen bulls further. Bears must deny this event from happening to avoid a bigger bullish move.
Daily chart shows a crucial GAP in chart. If correction continues this GAP can act as support. Bigger bearish possibilities only if Bears are able to close price below this GAP.

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Crude oil week and Daily chart shows price bulls trying to stay above crucial support levels.
4 Hour chart shows price staying below the cloud. If price gets resisted in the cloud then the support levels mentioned in the higher time frames may not work.

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Three charts all showing Gold testing crucial resistance zone. Gold bulls must close price above these levels to keep the current upward momentum intact. Weakness here may favour gold bears for a correction.

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