- Crude oil 4 hour chart shows a bullish ascending triangle pattern. Price violated the resistance zone but bulls were unable to stay above it.
- Daily chart shows previous support zone and Daily Ichimoku cloud acting as immediate resistance. Crude bulls need a daily close above these levels for a bigger up move to follow.
February 26, 2016
- ES Daily has moved above the crucial resistance zone at 1945 - 50. Now price is approaching a possible supply demand line as shown in chart 2. Bulls need a daily close above this line for a bigger up move to follow. Fib levels also shows the presence of Golden ratio around the same area. So bulls need to show momentum here to extend this up move further.
- 5 Minutes chart shows a trending move and Price has closed into the resistance cluster or bulls just managed to close above it. Bulls may extend the up move if price stays above the 5 minutes cloud.
- 4 Hour and Daily chart shows price closing above the resistance zone. Bulls need to sustain above 1945 levels to extend this up move.