- 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.
December 7, 2017
- 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.