CRUDE Oil support and Resistance levels

 

• CRUDE oil Four hour chart nearing resistance levels.
• For turning this down trend price must sustain above the 4 Hour cloud. 
• Weakness on falling below 23.6% Fib level.

SPY Chart analysis

 

• SPY 4 Hour moving into the bullish part of the range(153 - 159). Closing above 157.20 will extend this up move towards the top of the range.
• Intraday weakness on price falling back below the Golden ratio shown in second chart.
• APPLE CHART ANALYSIS

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APPLE Chart analysis

• Daily RSI of apple turning up from oversold levels may help this bounce to extend.
• Possible target area for the bounce could be the recent broken support level at 419.
• Weekly charts also suggest a counter trend move happening from lower bollinger band before the major trend could resume.

ES Hour chart analysis

 

 

• ES one hour chart shows price approaching 200 Hour SMA Which is a possible resistance area.
• Price is also nearing 50% Fib level as shown in four hour chart. Sustaining above these levels this up move will extend.
• For resuming the down move bears must break below the Hourly cloud shown in last chart. For now hourly cloud is giving support.

NIFTY confluence of resistance

 

• Nifty is at the falling resistance line from 6111 levels, Price yet to show weakness.
• Price is nearing 100 Day SMA and the Golden ratio. Confluence of resistance near 5870 - 5890 may stop this up move.
• For now price must sustain above the falling resistance line for moving towards the crucial resistance area mentioned above.
• CNX - IT CHART ANALYSIS

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CNX-IT Chart update

• IT index continues to fall. Price is testing the Weekly Ichimoku cloud.
• Weekly indicators are yet to become completely oversold which may give some more fall falls for the IT index and the stocks.
• Now if price does not hold above the Ichimoku cloud it may test the rising support line from 5011 levels.