CHART-III
- Crude Oil touched a high of 106.33 and is correcting from there. But if continue to stay above the resistance band we will see crude oil prices moving higher.
CHART-II
- Crude Oil has given a breakout above the resistance line staying above 105 can target 108 for Nymex Crude.
CHART-I
- Crude Oil Hour chart is showing resistance between 104.10 - 104.40 level.
- Hour closing above this band will be positive for the bulls of crude oil.
- Failing to stay above this will be negative. Staying above 50 hour moving average is also important for the bulls of crude oil
- SPY 5 Minutes chart still trading in the narrow range created yesterday.
- Break of 129.20 or 130.01 may give the next direction.
- ES Hour has violated the Ascending channel in which price was moving up steadily.
- Price is above 200 hour moving average which will favor bulls.
- Today it has moved in a range so far from 1287 - 1296. Violation of this range may give good direction.
- GOLD DAILY CHART ANALYSIS
- SBI is approaching the apex of the triangle pattern.
- Stock is trading below all major moving averages.
- If stock remains in this setup we may see a breakdown below the support line.
- Trade after a breakout or breakdown as both possibilities exist.
- CRUDE OIL RESISTANCE LINE
- Gold daily chart with support and resistance lines.
- An upper breakout from this pattern can target 1475 level and above for Gold.
- Support line break can be negative and will give targets of 1380, 1360 and lower.
