BANK Of America chart analysis

• BAC Closed the day below 20 and 50 Day SMA.
• Price seeking support at the daily cloud.
• If the cloud does not give support the bearish engulfing shown in last chart will take effect and a fall towards Weekly Middle bollinger band is likely to happen.

Broadening Top MCX CRUDE Oil

CHART -I (SHOWN ON 15-FEB)

UPDATED CHART

• Broadening Top shown on a Previous post on MCX CRUDE OIL; Has worked well so far. 
• Price sustaining below the falling support line and 50% Fib level will extend the fall towards Golden ratio.
• 100 Day SMA is also at 50% Fib level so this level may try to protect bulls. Daily close below this level will extend the fall.

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NIFTY Chart Analysis

• Price testing 20 Week SMA or Weekly Middle Bollinger band.
• Weekly MACD Lines are showing a bearish cross which need price to fall below 20 Week SMA for bigger falls to happen.
• Daily chart shows a Head and shoulders pattern But price seeking support at 100 Day SMA.
• Breaking 100 SMA or a Weekly close below 20 Week SMA will extend gains for bears. Taking support at the above mentioned levels may result in a bounce.

ES Chart update

4 HOUR CHART

15 MINUTES CHART

15 MINUTES CHART

• ES 4 Hour chart shows price breaking crucial moving averages and trying to do a bounce near 200 Period SMA.
• 15 Minutes chart shows price testing the cloud. Sustaining above the cloud may result in a bounce.  

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