November 18, 2017

S&P 500 Weekend update

  • ES Week does another neutral close.  Another Doji candle suggests price likely to be Range bound for some weeks.
  • Last chart shows price in a possible Flag. Price may remain slightly bearish But if continues to stay inside the Flag another upper breakout from the flag is possible.

CRUDE Oil chart analysis

  • Crude oil 4 hour chart shows price moving back into the broken cloud.
  • Bulls trying to avoid a bearish close for the week.
  • Weekly chart shows price staying near the resistance line. Oil bulls must breakout here or face a weekly down swing.