August 9, 2016

SILVER Trading in a Range

  • Silver trading in a bullish rectangle. I say bullish because price is trading above the crucial support resistance zone near 19 levels which is shown in weekly time frame.
  • So Weakness for Silver only if it starts to trade below 19 levels.

CRUDE Oil trend update

  • If price stays above the rising support line the up move should hit 44.50 levels at least.
  • Weakness in hourly time frame if price break below the trend line. Bears will also be interested if price sustains below 42.50 levels.

ES 4 Hour chart Analysis

  • 4 Hour trend line and 2170 levels are crucial for es bulls to sustain this up move.
  • Weakness only if price starts to trade below 2170 levels.