- 100 Day SMA is crucial for ES Bulls to hold above. If this line is broken then price may test 2115 - 2120 zone. No worries for bulls if price holds above the discussed levels especially 100 SMA.
- CRUDE OIL PATTERNS
October 3, 2016
ES Chart analysis
Crude oil patterns
- Weekly chart shows the Big Inverted head and shoulders pattern in weekly chart. Crucial resistance zone for this pattern is between 50 - 51 level.
- Daily chart shows immediate resistance at 48.75 level. Bears need this level to hold for stopping bigger possibilities mentioned in weekly chart.
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