- Bulls of Crude oil should sustain above 94.63 levels for extending gains.
- This level has given support many times as can be seen on the left side.
- Breakout above this level may give 100 Levels for crude oil. Getting resisted here may attract selling.
- S&P 500 Hits its 200 Day Moving average.
- For this up move to continue price should close above this level.
- Getting resisted here may give a correction.
- Silver Resistance levels in weekly chart.
- 50 Week sma and 50 % Fib retrace levels are at the same area. So this level will be tough to break for silver bulls.
- ES NEGATIVE DIVERGENCE
CHART-II
CHART-I
- ES Four hour is moving up with negative divergence.
- Price and MACD is diverging.
- Price may hit the resistance line once more before the correction can start. A false spike above the resistance line is also possible.
- Divergence need price confirmation before one can go short. So if price sustains above the resistance line then the divergence will vanish.
CHART-II
- Wedge has broken the support line. Price is also staying below 200 Day SMA. Daily candles closing below 200 SMA will favor a bearish trade now.
CHART-I
- US Dollar Four hour chart is forming a falling wedge pattern
- Falling wedge is bullish reversal pattern So price need to break the falling resistance line for USD to move up which means Stocks might start to fall.
- Price breaking the lower boundary will invalidate or reduced the credibility of this pattern.
