- Crude oil one hour chart continues to favour crude bears below the cloud. But price is approaching 200 SMA in daily time frame. This could be a make or break level for intraday traders. Break below this line could give 47 levels. If 200 SMA is held then a big reversal is possible.
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- Daily chart shows price trying to move back above 20 Day SMA and closing back below this line. Now More weakness in daily chart if 9075 levels is broken.
- Bigger falls or a Top in weekly chart can form only below 8990 levels. There is small GAP in weekly chart around this zone. Weekly close below this level may lead to a trending move in this time frame.
- Having said that If bulls manage to close back above 20 SMA then bears will be at a disadvantage again.
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- CRUDE Oil Weekly chart shows price falling to the up trend line.
- Daily chart is testing 200 Day SMA. Last 3 closes below this line gave good reversals. But risk of a bigger fall exists on closing below this line.
- One hour chart shows a trending move. Hour staying below the cloud will favour bears to extend the down move.
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- Bears managed to close below 50 Day SMA. If price sustains here then next target could be the 200 SMA around 49 levels.
- Hour chart need to stay below the cloud to keep the momentum in favour of bears.
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- Crude oil daily chart shows price near crucial moving average of 50 Day SMA. Right now the line is at 51.45 levels. For bigger correction price should close the day below this line.
- Hour is staying below the cloud. A trending move is possible if price sustains below the hourly cloud. Hope of a reversal for Crude bulls if price moves back above Hourly cloud.
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- Netflix daily shows an Ascending channel. If bullishness sustain price likely to hit 149 plus levels to reach channel Top.
- 20 SMA is positioned bullishly above 50 Day SMA. For bears need to close daily time frame below 142 levels.
- Staying above the cloud will keep the bullish trend intact.
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- ES Daily shows possible support level at 2317. Rising 100 SMA too may reach this level soon. Immediate resistance is the broken 50 Day SMA. Bears need to keep price below 50 Day SMA. Bigger weakness only on price closing below 100 Day SMA.
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