- Crude oil weekly chart testing possible support line drawn from 26 levels through 42.
- Fib levels shows price getting resisted at 78.6% Fib level, But the correction towards 61.8% Took many weeks to happen.
- Now if the Golden ratio does not act as support price may fall towards 100 Week SMA and a support line drawn in the same chart.
- GOLD Trend and Channel
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- ES staying below 4 hour cloud will favour bears on up moves or bounces.
- One hour cloud is acting as immediate resistance. Bears may loose momentum if price starts to stay above Hourly cloud.
- Last chart shows possible support levels if price starts to fall further.
- GOLD Trend and Channel
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- Gold 1 Hour trending below the cloud. Staying below the cloud Gold bears likely to see 1200 and 1190 levels.
- 4 Hour chart shows a bearish channel in place. If the channel stays intact, Price likely to target 1187 levels.
- Warning of a reversal if price moves above 1 Hour cloud.
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