CRUDE OIL Resistance level

• Crude Oil has violated the resistance line in four hour chart.
• Current up move may hit resistance at 102.58
• ES HITS 200 DMA
  

ES Hits 200 Day Moving Average

• ES daily chart with 200 Day moving average.
• Price usually bounces from 200 DMA when it meets the moving average after a long time.
• So Bulls can expect a bounce.
• Hour is still trending down below 50 Hour moving average.
• If a bounce is to happen we will see price moving above 50 Hour moving average.
• DOW JONES ANALYSIS AFTER CLOSING BELL
  

RELIANCE Intraday Update

• Reliance Industries four hour chart with an inverted head and shoulders pattern.
• Bullish only if price keeps its head above 964.
• Break below 928 will favor bears.
• Although we have a bullish pattern stock is in a neutral place from here it can go both ways. So wait for a breakout or breakdown before one take a large position.

Nifty Daily Analysis

• Nifty near its resistance levels
• 5600
• 38.2% Fib level
• 20 week moving average.
• Has to close the day and week above these levels for 5700 otherwise this trading range of 5400 - 5600 will continue for some more time.
• DOW JONES EOD ANALYSIS
  

DOW JONES Analysis after closing bell

• Dow Jones in the daily chart is about to hit a trend line. We had 5 red candles so this hit at the trend line may result in a green or white candle.
• Price in hour chart is trending down below major moving averages after the death cross.
• Last chart is to give some hope for bulls. Price may give a higher low and RSI is about to make a lower low resulting in Hidden Positive Divergence. Note: Price has not made a bottom yet so we have to wait and see till Dow Decides to bounce.
• BABYPIPS.COM EXPLAINS HIDDEN DIVERGENCE