- ES 4 Hour at resistance level
- Daily chart is also testing high's But daily TF has two resistance levels to cross to complete a breakout. Bears need a bearish candle at this level to keep price range bound.
- The Bullish rule is still intact as major Lows are made higher. For bears this set up needs to change for bigger falls to follow.
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- Dail chart shows price falling towards 200 SMA which may act as support in case it gets tested.
- Week and Month charts shows bigger possiblities for bears But these needs confirmation. Falling below 8269 and 50 Week SMA is necessary to confirm bigger weakness for nifty bulls.
- Crude oil is likely to target its 200 Day SMA as short term target.
- Range breakout target is about 64 levels as shown in daily time frame.
- Weekly is testing 23.6% Fib level. More strength if price sustains above this level.
