July 5, 2016

CRUDE Oil out of Triangle pattern

  • Crude oil break below the contracting triangle discussed earlier. Now price moving towards the support levels shown in chart 2. 
  • Price continues to trend in 15 Minutes time frame. short term will remain in favour of crude bears till price stay below 15 Minutes cloud. 
  • CRUDE Oil Triangle pattern

ES Chart update

  • ES 4 hour reacting from resistance zone
  • One hour chart shows price testing the cloud. ES bears need a close below hourly cloud for bigger correction to happen.