Bullish Price Action - Crude Oil

• Crude Oil daily chart has broken above the resistance line.
• Immediate resistance is at the 50 day moving average.
• Bulls of crude oil can extend the rally if price is able to stay above this moving average.

SPY Trend Update

• Price continue to move up in a narrow channel. 
• Price has not even touched the 20 period moving average for this time frame
• For bears they have to break the channel and 20 period moving average for a correction to happen.

ES in a range

CHART-II

CHART-I

• ES in a range in 30 Minutes
• Last smaller range between 1311 and 1317 gave good long trade after an upper breakout.
• This one is even bigger 1328 - 1337 and expecting better direction out of this range.
• DOW JONES WEEKEND UPDATE
  

BANK NIFTY ,SBI and VIX Analysis

BANK NIFTY DAILY

STATE BANK OF INDIA DAILY CHARTS

INDIA VIX

• Bank nifty is slowing down near 200 DMA. 
• Price has given a doji candle near 200 DMA. Doji shows indecision and when it comes near moving important moving averages or trend lines it usually lead to a good move in either direction.
• SBI is pausing at 38.2% Fib resistance level and near 50 Day moving average. Price should sustain above these levels for this up move of SBI to continue.
• India Vix seems to be making a bottom. If stochastic starts to move up then we may see the VIX move up.