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.