CRUDE Oil Violating support levels

 

 

• Crude oil 4 hour chart shows price violating support lines.
• Price staying below 200 Period SMA will add more strength for crude oil bulls.
• If bulls cannot take price above 200 SMA then correction may extend towards 50.55 and 49.75 levels.  So this is a crucial level for crude oil bulls to defend.
• GOLD Trend Update

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GOLD Trend update

• Immediate support and resistance levels for Gold are 1170 and 1185. Another range breakout if sustains above 1185 towards 1200 levels is possible. 
• Weakness below 1170 levels and the 100 Hour SMA. Hour trend will be safe till price stays above the 100 Hour SMA.

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NIFTY Morning update

 

• Nifty bulls need to close above 200 SMA to gain momentum.
• Weakness below 50 Hour SMA and 8218 levels as shown in 2nd chart.

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