January 20, 2016

QQQ chart analysis

  • QQQ Week has closed below the cloud and price is sustaining below it. 30 Minutes chart shows a trending down move. Bears will remain strong below the cloud. Support is expected near the rising support line of Monthly chart.

ES before opening bell

  • ES violates crucial support zone around 1860 - 70 levels.
  • 15 Minutes cloud is the immediate resistance above that a bounce towards the broken support zone is possible.

Crude Oil chart update

  • Crude oil bounce was short lived. One hour chart shows price getting resisted at 200 Hour SMA.
  • Month chart shows price moving towards the next swing low which was made back in 2003.