November 26, 2016

GOLD Weekend update

  • Gold weekly chart shows price closing below 100 Week SMA. 1200 level is also broken.
  • Last chart is crucial because 1170 is a crucial support zone. Weekly cloud and Golden ratio is around 1170 Breaking this level will ensure bigger correction in Golden.

CRUDE Oil weekend update

  • CRUDE Oil ONE HOUR gave double breakdown from a Triangle and 100 Hour SMA. This was followed by quick down move in the shorter time frame.
  • Daily is moving towards 200 SMA again. Last 2 falls below this crucial moving average did not give big results for Crude oil bears. Price likely to test this line again.
  • Last chart shows price in a range between 43 and 48 which in turn is in a larger range between 39 and 52. So range bound move like to continue for next week as well.
  • CRUDE Oil ONE HOUR Analysis