S&P 500 Bearish upper shadows and Resistance zone

• ES daily moving towards the resistance zone near 2110 level as shown in first chart. 
• Month time frame shows candles failing to close above 2110 level. Although price violated this level bulls never manage to close above this zone. For a bigger breakout to happen month need to close above this level. Just a breakout above 2110 is not going to be enough.
• CRUDE OIL CHART UPDATE

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CRUDE Oil Rising wedge

• 4 Hour chart shows price near the resistance line of  a Rising wedge pattern. Bears may gain strength if price breaks the support line of the pattern. 
• CRUDE OIL WEEKLY CHART UPDATE

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Nifty chart update

• Nifty moving towards the major resistance zone near 8000 levels. Next hurdle for bulls to cross is 7940. 
• First chart shows a possible inverted head and shoulders like pattern in Daily time frame which is bullish. Bulls need to stay above the rising blue line. Price falling below this line may weaken the pattern.
• CRUDE OIL CHART UPDATE

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CRUDE Oil Chart update

• Crude oil weekly chart testing crucial resistance zone near 49 - 51. Weekly chart also shows the cloud as resistance.
• The falling wedge pattern is working in favour of bulls after a false move. Mostly these falls moves are followed by big gains in the opposite direction. Resistance levels for the current up move are 51 and 61 levels.
• ES RANGE FALSE BREAKDOWN

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ES Range false breakdown

• Range shown in second chart gave a false breakdown. First chart shows the false breakdown and the swift move in the opposite direction favouring es bulls.

Bank of America chart update

• Bank of America daily stands below the falling 200 SMA. More weakness for the stock if price falls below 14.02 levels as shown in daily time frame.
• Structure in weekly is doing a corrective up move for the big fall from 18 levels. Now despite this corrective up move the structure will remain bearish price stays below the rectangle shown in last chart.
• Weekly resistance level is the golden ratio at 15.40.

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S&P 500 Futures Range and Descending triangle

• ES Daily in a Descending triangle potential bearish pattern. Bears need price to sustain below the resistance line and 50 Day SMA.
• One hour chart is seen in a 10 Point range. Bigger moves only when the range gets resolved.

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