December 7, 2015

Crude oil support levels

  • Crude oil is testing its recent swing low. If this level is not held price may target the falling support line shown in weekly time frame. The multi year lows shown in month time frame is also a possibility if price does not hold above the recent swing lows.

GOLD chart analysis

  • Gold 4 hour chart shows gold bulls trying to stay above the cloud. Gold bulls need price to sustain above the cloud to save this bounce.
  • Gold bulls need price to stay above the violated support zone to avoid bigger falls.