- Crude oil is stuck in a range between 60 and 66. But most importantly price is just holding below the crucial moving average(200 sma Month).
- Weakness for next week if price stays below 64 levels.
- 200 SMA line in month is crucial for now. Most of the recent hits at this line has resulted in big swings as shown in last chart.
- One hour shows a bounce But 4 Hour time frame shows its still in contraction. Bulls must do more and stay above 2660 and 2680 levels to confirm strength.
- ES Hour is showing a sell But Most important chart the daily time frame is still holding in favour of bulls. Unless price break below 200 SMA bears has no hope to extend correction.
- Apple bulls trying to show strength near 200 Day SMA.
- Price also staying above crucial retrace levels.
- Bigger weakness for the stock only on daily close below 200 SMA.
- Price for now is in a safe buy trade zone with stop loss below 200 SMA. On the contrary bears will be active below 164 levels for a target of 150 levels at least.
- ES bulls holding on to 200 SMA
- Bulls trying hard to hold above 200 SMA. Price not showing any strength for bulls.
- Price staying below hourly cloud is advantage bears for now.
- Having said that if bears are unable to break below 200 SMA Then another bounce is possible.
- Bulls unable to build on the gains from 200 Day SMA. Price for now is back near the crucial moving average again. If price does not move away from this 2585 zone quickly then the threat of a larger breakdown exist.
- One hour has fallen back below the cloud. In this time frame Any price action below 2600 will be bearish. Unless price make it back above the hourly cloud its advantage bears again.
- Daily chart shows price testing recent swing high.
- Most importantly Month candle is trying to move above 200 SMA. Crucial thing here is, Bulls need a good move away from 200 SMA otherwise price may fall back below the moving average line which will be very negative for crude bulls.
- ES bulls is doing a bullish engulfing from 200 Day SMA. Considering the place it has occurred this has to be treated as a strong signal. But as always candlestick patterns does need confirmation.
- Hourly chart shows price running into the cloud. More bullish signs if price manages to move above the hourly cloud. Bears hoping that price will find resistance at the cloud.
- Bounce in hour chart continues to be strong
- Price near one hour cloud and 50 Hour SMA. Throughout this down move bulls struggle near the cloud. So for this bounce to be reflected in Daily time frame, Price has to break above the hourly cloud.
- Bears trying to make a comeback. They have to deal with 200 SMA first. Bigger bounce possible only if price is able make it back above 200 SMA
- Immediate resistance levels and cloud shown in one hour time frame for tomorrow.
- Price closed the week at the lows. Price broke crucial support zone of 175.
- Daily time frame is also staying well below 200 SMA.
- Daily is likely to give the death cross soon with 50 SMA moving below 200 SMA.
- Any bounce towards these moving averages are likely to face stiff resistance from bears.
- Hourly bearish momentum will stay intact below ichimoku cloud.
- Gold had a bearish descending triangle and a Rounding top pattern. Both were bearish patterns but Gold decided to move in favour of bulls.
- But this up move may find resistance both in Daily and weekly time frame. Resistance in daily is around 1365 and Week shows possible move up to 1377 levels. Bigger moves only if these levels are crossed on closing basis.
- First chart is the hope of bulls to replicate the recent visit of price below 200 SMA. As one can see price did not do much below 200 SMA for bears.
- But bulls will understand the Gravity of the situation when they see the second chart. From 2008 there has been 3 sell signals in Month MACD, We are about to witness the 4th sell signal. All the previous signals gave great results for bears.
- But as always in stock market nothing is certain, Let the 4th signal fail to save small long term investors from big losses....
- If a bounce has to come it has to come from here. Its a confluence of support zone and 200 Day SMA. But on the other hand bears need a daily close below this zone to gain more strength.
- ES One hour chart shows the bounce But price is still below the cloud. As long as price stay below the cloud Bears will be safe to resume correction.
- Daily candle is showing the Long bullish shadow. But will it end like this or a bearish candle by the time day closes.
- Bear flag in 4 hour chart continues to bleed.
- Daily time frame chart shows price falling towards 200 SMA
- With this momentum price is likely to test 200 SMA before a major bounce could happen.
- Bounce was resisted near 2750 zone.
- second chart shows the steady breakdown or a trending down swing in 4 hour time frame.
- Last chart shows possible support zone.
- As long as price holds above 50 Week SMA there is hope for bulls for a bounce. Only a weekly close below this line will further strengthen bears.
- 4 Hour chart with crucial moving averages shows the strength of the move. Falling moving averages shows bears in control But bulls can change this with a high velocity bounce. If the bounce lack momentum then bulls will face resistance at those moving averages.
