August 23, 2016

CRUDE Oil chart update

  • Crude oil 4 hour chart shows previous resistance acting as support
  • One hour chart also shows support near 200 Hour SMA.
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GOLD Support and Resistance line

  • 1335 is acting as strong support But this support is part of a descending triangle pattern so breakdown is possible if gets tested again.
  • The falling black resistance line must be held for the bearish pattern to stay valid.
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CRUDE Oil chart update

  • Crude oil 15 Minutes chart trying to trend below the cloud.
  • One hour has fallen below the cloud.
  • Next crucial level is 200 Hour SMA. Bigger down moves if this level is not held.
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ES Chart with another bullish attempt

 
  • 2nd chart is crucial, the one hour time frame shows several attempts by bears and bulls to move away from the range. Now bulls are making another attempt to break away from the range.
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