Stock Market Chart Analysis

January 18, 2018

Crude oil is developing a broadening wedge in 4 hour time frame.
Second chart shows price right at the apex, a Breakout or breakdown is imminent from the contraction
Breakdown if happens must stay below 50 SMA for bigger falls to follow. Staying above this moving average the up move likely to continue.

Crude oil 4 hour chart resting on crucial moving average.
second chart shows price at rising trend line.
More weakness on closing below the moving average. Crude bulls must stay above the trend line and moving average to avoid a bigger down swing.

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ES One hour chart shows another bounce from cloud base.
One hour right now is at a crucial zone. Price may either reverse from here or it can test the high's again.

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NIFTY Daily and Week is testing the resistance line. Bears need the bearish engulfing in daily chart to take effect. Weekly chart is more crucial. A bearish bearish weekly candle here will strengthen bears.
Bulls need to save the weekly candle to stop a down swing from happening.
10680 and 10660 are possible supports in Nifty. If these levels are broken on daily closing basis then bigger down swing may follow.

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Two gold charts of Weekly time frame shows price nearing crucial resistance zone. Second chart shows the resistance line drawn from Middle of Year 2013. Since its a long term pattern a breakout or breakdown from this will be significant for Gold. Price is nearing the apex of the pattern. If the resistance line stops the up move then price is likely to remain in this pattern for some more months Before a breakout or breakdown can happen. Resistance zone is around 1360 levels.

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Weekly chart shows the hope and despair of bears. Bears are shown hope in those circles only to be batted by bulls.
Month chart shows one of the biggest gains in more then a year. And Month is only Half done.
The Hour chart shows the cloud base in action. Weakness in Hour was arrested at the cloud base followed by a good long trade.

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