November 4, 2016

CRUDE Oil trend update

  • Hourly cloud shows price trending below it from 50 levels. Now price is approaching the 200 Day SMA. More weakness if this level is not held.
  • Weekly chart earlier got rejected at the 50 , 51 , 52 zone. A Bigger bullish pattern is stopped for now.
  • S&P 500 Analysis after closing bell

S&P 500 Futures Analysis after closing bell

  • Weekly chart shows weakness as price falls back into the Multi Week 300 point range.
  • Daily chart shows price testing 200 Day SMA. Last fall below this line did not give bigger gains. Bears are hopeful this time.