November 15, 2017

ES Chart analysis before opening bell

  • ES testing crucial support zone and moving average
  • 4 Hour is trying to hold above 200 Period SMA.
  • Price for now is bouncing from this line. Bears will gain further momentum if price closes below this zone.

NIFTY Hour Trend update

  • Nifty one hour with cloud shows a down swing in place.
  • Last hour shows a possible inverted hammer which is bullish. But this move if it happens will be against the prevailing trend.
  • Moving averages also suggesting a strong down move in place, at least till now.

ES Chart analysis after closing bell

  • Price falling towards last week low again. 4 Hour chart too shows 2563 as a crucial price pivot zone. Closing below this zone means a close below 20 Day SMA line in daily time frame. So its crucial for bulls to protect this zone.
  • CRUDE Oil chart analysis