- Crude oil weekly candle shows loss o momentum again for bulls But bearishness is yet to confirm.
- Daily chart shows price above 20 Day SMA and the up trend line. These two must break soon or a bigger breakout may happen. Since price is near weekly resistance zone a close below the support levels in daily time frame is crucial.
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- Nifty month chart shows a Bearish November candle. December candle is following Novembers trend.
- Price is approaching crucial support levels in 20 Week SMA and Month lows. A weekly close below 20 Week SMA may extend this fall.
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- Week time frame shows price reacting from resistance zone. Crude bears need to do more to confirm weakness in Weekly time frame.
- Day is above 20 Day SMA. Daily close below This line may result in an extended correction.
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- Price near crucial support zone. Possible short trade in hour TF if closes below the cloud. Bulls need to stay above the cloud and 100 SMA to avoid weakness in hour.
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- ES hour chart shows an Ascending triangle.
- Crucial support levels for the day are 2600 and the Moving average lines shown in chart 2.
- IWM Weekend update
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- First chart is the weekly time frame which shows the Huge broadening formation. Bulls are safe till price stay above the resistance line of this pattern. Once and If price falls back into the pattern bigger correction is possible.
- 2nd chart also the Weekly time frame shows possible target level of 156 Provided price stay above 150 levels.
- Weakness in smaller time frames if price fall below 150 levels.
- ES Weekend update
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- ES Week chart shows price moving out of the closing range. Week close adds more strength for bulls. More up moves should follow by staying above 2580 levels.
- Immediate support in 4 hour chart is at 2593. Weakness in short term charts if price falls below this level.
- One hour chart shows price moving in a bullish channel.
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