Copper previous resistance as support

 

• Copper daily and 4 hour chart shows price testing previous resistance zone which has acted as support for some time now.
• Last chart also shows price at crucial moving average. Staying above this will result in another up move.

ES Chart update

• Price is moving around a crucial support resistance zone.
• It is better to wait for price to move out of this consolidation range before taking a position.
• Pattern or structure in 4 Hour looks to favour bulls for now.

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CRUDE Oil Falls below recent swing low

 

• Crude oil falls below the recent swing low. 
• Daily range support zone is also violated.
• No signs of bullishness in one hour time frame yet. One hour will continue to favour bears till it stays below the cloud.

NFLX Testing 200 SMA

• 200 SMA and 50 Week SMA are crucial levels for bulls to protect.
• On falling below the above mentioned levels price is likely to fade the GAP shown in last chart.
• Bigger weakness on a daily close below 401 levels.

ES Chart update

• ES bears needs the first two resistance levels to be strong to avoid a bigger bounce.
• But as price sits above 200 period SMA its not looking good for bears. Bears need price to fall back below 200 SMA to start correction
• Bulls need to move above the levels shown in first two charts for bigger up moves to follow.
• NFLX Chart Analysis

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