December 7, 2017

ES One hour chart update

  • Bulls for now successful in staying above 200 SMA.
  • Immediate resistance is the hourly cloud.
  • Staying above both these levels will favour ES Bulls.
  • Hope for bears only if 200 Hour SMA breaks. 

CRUDE Oil support and resistance levels

  • Crude oil weekly resistance line is looking good for now. Weekly close at the current levels or lower will strengthen crude bears further.
  • Bulls can see support around 54 levels and the rising support trend line shown in daily time frame. If this area does not hold a bigger breakdown is possible.
  • Hourly cloud may be kept as stop loss for short trade.