December 6, 2016

CRUDE Oil Weakness at resistance zone

  • Crude oil daily chart shows weakness at resistance zone around 52 levels.
  • Weekly candle price action is not looking good so far for crude bulls. bulls hoping this may change as week goes by. Crude bears on the other hand need  a bearish weekly candle for bigger correction to follow.
  • Hour shows crucial support around 50 levels. Bigger weakness if price starts to trade below 50 levels.

NIFTY One hour and 15 Minutes chart update

  • Nifty moving towards 200  Hour SMA. 
  • Second chart shows important levels in hourly time frame.
  • 15 Minutes chart is trying to stay above the cloud.
  • Bigger bullish moves only above 200 Hour SMA and 8250. Immediate resistance at 8176,