April 22, 2015

Gold chart analysis

  • Gold daily continues to show weakness as price nears 200 Day sma.
  • Fib chart shows a range between 23.6% Fib level and 50% Retrace level.
  • 4 Hour chart shows good price action for gold bears But this needs more follow up. Bigger weakness only below 1175 - 1180 levels.

CRUDE Oil Trend update

  • For this bounce or minor up trend in crude oil the 54 - 55 zone is crucial. Crude oil bears need price to fall back into the range.
  • 200 SMA in one hour chart and 4 Hour cloud are crucial levels to hold above. 
  • Broken range top is trend deciding level. Bulls must stay above this zone to avoid bigger weakness.
  • ES Trend update: CLICK Here