- Weakness in 4 hour chart only if price starts to trade below the channel.
- Weekly chart is also testing crucial resistance zone. Crude bears need a bearish candle at this levels for a bigger correction to follow.
- Things are simple for bulls they need to do a breakout for the weekly head and shoulders pattern .
- S&P 500 Analysis after closing bell
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- First chart shows price contraction. Should result in a bigger up or down move from the apex of the pattern.
- Immediate resistance at 2140 zone and 100 Day SMA.
- Support levels are between 2100 and 2120 zone.
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