March 22, 2017

CRUDE Oil support levels

  • Crude oil 4 hour chart shows price nearing recent swing low.
  • If the swing low at 47 breaks then the weekly trend line may get tested. This should bring crude oil down to 46 levels approx. This zone must break for bigger bearish possibilities.

ES Analysis after closing bell

  • ES  4 Hour chart shows price violating support levels. The shooting start remains the Top for Now.
  • Daily chart is approaching 50 Day SMA. Bigger bearishness if price closes below this line.
  • Month chart shows March month candle developing bearishness. But bears need to close the month like this to confirm bearishness.