- USDJPY Month chart shows price bouncing from 50% Fib level.
- Daily chart shows price testing the falling resistance line and the Daily cloud.
- If the bounce in Month chart is to continue the resistance line and cloud is likely to be broken.
- CRUDE OIL TREND UPDATE
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- Daily chart is testing 200 Day SMA.
- Weekly chart is moving up But price has to stay above previous support zone of 14.80 - 15.20 levels which has been acting as stiff resistance. If BAC Bulls are able to stay above this zone Then price can move towards 18 levels again.
- Unable to cross the above mentioned resistance levels may take price back to 12 levels again.
- CRUDE OIL TREND UPDATE
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- Crude oil one hour and 4 hour charts shows bears in control. Daily chart shows price nearing 200 SMA. Price likely to test 200 SMA before bigger reversal can happen. Bounce in hour charts likely to be small if it happens before price hits 200 SMA.
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- ES 4 Hour chart shows price moving sideways. After big up moves price does this sideways move to catch up with the averages.
- First chart shows a range of 2155 - 2170. Price need to close outside this range for bigger moves to follow.
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- Negative divergences, overbought readings are there. Price is also trading closer to a possible resistance line But Price continue to be with the trend. Trigger price for the sell could be a close below 8572 and followed by a break below 8476 Till that happens bulls remain strong.
- Close above 8644 will help bulls to extend the prevailing trend further...
- CRUDE OIL NEAR 200 SMA
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- Gold triangle worked well for bulls. Many times when price reaches the apex of a pattern it gives a false spike out of the pattern. It was rare to see a clean breakout and the fast up move for the pattern.
- Now gold bulls has resistances near 1350 and 1370 levels.
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