- Recent MACD Bearish signals shown in Daily time frame. Looks like price and MACD Lines are getting ready for another bearish signal.
- The weekly resistance line seems to be working for CL Bears at least for now. Bears need a bearish candle to confirm the effectiveness of the resistance line.
- Twitter Bulls trying to move above the weekly cloud. Bulls trying to change the trend of the stock.
- Crucial level for bulls to stay above is 19.67. If price is able to sustain above weekly cloud then Initial target is 25 plus levels. Bears will resume below 19 levels.
- ES Daily chart shown with 20 Day SMA. Bulls continue to take support at this line. Bears need to see a close this one for a possible down swing to start. For now though Bulls in control.
- 4 Hour chart shows a 20 point range. Weakness on closing below 2574 levels. Bulls regain control above 2584 levels.
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- ES in a range needs to stay above 2584 levels to extend the bounce.
- Earlier today 4 hour chart shows price violating the crucial moving average line again. But bulls managed to make a comeback again.
- Weakness below 2574, Strength above 2584
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- ES Weekly chart shows a good start for the week for bears so far. But Bears need further followup and a close near 2562 levels or lower to complete the bearish candlestick setup. Bulls on the other hand needs to stay above 2584 levels to negate the bearish scenario.
- 4 Hour chart shows immediate support at 2574 and 100 Period SMA. 4 Hour closing below this zone may strengthen bears further.
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- Crude oil weekly chart shows price near the resistance line. For bears of CL needs the coming weekly candle to be a Red one to confirm weakness.
- 4 Hour chart shows a small range. Considering the resistance line in weekly time frame a Close below the range will favour bears of CL.
- Daily time frame with RSI shows high overbought levels.
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- NIFTY Daily shows price falling towards previous resistance line which may act as support.
- 4 Hour chart shows possible support zone at 10250.
- One hour shows a break below the cloud. This is a possible down swing situation but for this time frame to work the bigger time frame must break the support levels discussed. Close below 10250 will add strength for bears.
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