- Crude oil bulls trying to form a base. Daily chart shows positive divergence. For crude oil bulls price need to stay above the cloud and 20 Day SMA For a bigger bounce to happen.
- Black up trend line shown in first chart is crucial. Weakness if price starts to trade below this line.
- ES 200 Hour SMA acting as immediate resistance.
- Daily 200 SMA is acting as support so far. Although price closed below this line, Bears for now seems to have lost momentum
- Support zone shown in 4 Hour chart continues to be crucial. Staying above this level may give an up move.
- Gold extending its gain above 200 SMA.
- Weekly chart shows positive divergence.
- Next Crucial resistance on weekly chart is the cloud. Weekly close above the cloud may give an extended up move for gold.
- Bank of America has closed the week below Weekly ichimoku cloud.
- Weekly chart shows a possible Double Top Pattern.
- Weekly MACD shows bearish signals. This signal will strengthen if price starts to trade below 100 Week SMA and 14.36 levels.
- SPX Analysis after closing bell
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- SPX Managed a bullish candle at lower Bollinger band. 38.2% Fib level too acted as support.
- Price likely to move towards the 20 Day SMA in the very short term.
- Price came closer to 200 SMA. For any bigger correction to happen this line must break.
- GOLD WEEKLY POSITIVE DIVERGENCE
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- Silver trying to stay above weekly resistance line. Weekly close above this line is bullish for silver. But there is strong resistance between 18 and 19 as shown in 2nd and 3rd charts.
- GOLD WEEKLY POSITIVE DIVERGENCE
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