December 21, 2017

CRUDE Oil Triangle update

  • One thing is for sure, Crude oil getting ready for explosive moves soon. Direction is likely to be tricky. First breakout outside the triangle is likely to be false one.
  • For the short term more weakness if false below 57.50 Levels.

ES Chart analysis

  • ES 4 Hour shows immediate resistance at 20 SMA. Price need to get back above this moving average for new high's again.
  • One hour too is below the Ichimoku cloud. Closing above the cloud may result in another new high's for ES.