- Crude oil weekly chart with the broken channel.
- Channel support line is acting as resistance.
- Price unable to close the week above this line will result in a reversal. Bearish daily or weekly candle at this level will give confirmation.
- ES CHART ANALYSIS
- GOLD SUPPORT AND RESISTANCE LINE
- Gold is consolidating between support and resistance lines.
- Right now price is moving up after hitting the rising trend line.
- Bigger moves can be seen once price gets out of this pattern.
- ES CHART ANALYSIS
- ES is approaching the support line of the triangle pattern.
- Price is staying below 20 SMA.
- Support line may give an up move. In case support line breaks 50 SMA is the next important support level.
- Nifty is closer to its week low EMA and 50 Day Moving average which are likely to act as support levels in case they get tested.
- MACD has given a sell signal, Stochastic too is moving down. But the all important 50 SMA is not yet taken out.
