December 23, 2015

Crude oil Falling wedge update

  • Crude oil weekly chart shows price trying to stay above the falling support line or the support line of the falling wedge pattern. Current up move is moving towards a possible resistance zone between 38 and 40 and shown in chart 2 and 3. For a bigger up move price must sustain above 40 levels.

ES Chart update

  • ES approaching possible resistance levels in 4 hour chart.

Nifty intraday update

  • Nifty bulls need to sustain above 7852 levels for extending gains.
  • Intraday weakness below 7840 levels. If the support line shown in 15 minutes chart is not held bigger falls can be seen.