FTSE 100, UK Index Technical analysis

• FTSE 100 is trying to stay above the resistance zone Broken recently. Now FTSE Bulls are hoping that the previous resistance zone(7080 - 7100) may act as support
• Weekly candlestick suggests Bears engulfing previous bullish candle. Further weakness only if the above mentioned zone is broken and closed below.
• Current weakness is seen after negative divergence as shown in last chart with Price and MACD.

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CRUDE Oil chart update

• First chart shows price still range bound between 50 and 53.
• 4 Hour chart shows a possible bearish pattern getting formed. Crude bears need a close below the black line for bigger correction to follow.

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ES Chart Analysis before opening bell

• ES Daily continues to contract
• For now the closing is above 20 Day SMA.
• Price is nearing the apex of the pattern so Volatility is likely to increase soon. 

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Nifty 15 Minutes and Daily fibonacci charts

• Bulls testing recent resistance levels. Unable to cross these levels means intraday weakness resumes.
• Sustaining above 8460 Bulls likely to target the Golden ratio as shown in Daily fib chart.

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NIFTY Morning update

• Weakness in daily only on closing below 200 SMA and the GAP area. 
• Hourly weakness starts on sustaining below the cloud.
• Strength only on closing into or above 8400 - 8460  zone. the Upper shadows of weekly candles formed from this zone shows possible resistance zone for now. Bulls need a weekly close above this level.

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