March 13, 2015

ES Update

  • ES 4 Hour chart got resisted at 200 period SMA.
  • 2nd chart shows crucial support zone. Closing below this level may give bigger falls.
  • Price yet to test the daily trend line. Bulls need the trend line to hold to avoid bigger falls.

CRUDE Oil chart update

  • Crude oil one hour chart shows price trending down below the cloud
  • 4 Hour chart shows price broken below the support zone and moving towards range bottom.
  • Price likely to test the recent lows shown in daily chart. As the major trend is down new lows are possible soon.

ES Chart update

  • ES 4 Hour chart retesting 200 period SMA.
  • Broken support line shown in chart 2 is also crucial for bulls to regain momentum.
  • Bears for now has to keep price below 200 Period SMA.