April 21, 2015

S&P 500 Futures Trend update

  • 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.
  • CRUDE Oil Analysis: CLICK Here

NIFTY Chart update

  • 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 chart update

  • 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.