August 11, 2016

CRUDE Oil chart update

  • Crude oil 30 Minutes and one hour chart shows price trying to stay above 43.35 - 45 Levels which acted as resistance recently. Weakness in smaller time frames if price falls back below this level.
  • One hour chart shows a good up move from 200 Hour SMA.
  • 4 Hour chart shows the cloud of this time frame shown as crucial support for the reversal attempt.

ES 4 Hour chart analysis

  • Previous range resistance is acting as support which is between 2167 - 2170. 
  • 4 Hour chart also shows resistance line which is at 2186 approx for today.

CRUDE Oil chart update

  • Crude oil 4 hour chart shows price trying to stay above the cloud. Crude bulls must stay above this cloud to keep the reversal pattern intact in Weekly time frame discussed earlier.
  • One hour chart also shows price moving around 200 Hour SMA. Crucial level to watch is 41.06 staying above which crude oil bulls are safe.

Nifty intraday update

  • 4 Hour chart shows a possible support line
  • One hour chart shows price holding on to 200 Hour SMA.
  • These two levels must go for a bigger fall to happen.