January 17, 2018

CRUDE Oil chart analysis

  • Crude oil 4 hour chart resting on crucial moving average.
  • second chart shows price at rising trend line.
  • More weakness on closing below the moving average. Crude bulls must stay above the trend line and moving average to avoid a bigger down swing.

ES One hour cloud update

  • ES One hour chart shows another bounce from cloud base.
  • One hour right now is at a crucial zone. Price may either reverse from here or it can test the high's again.

NIFTY Chart Analysis

  • NIFTY Daily and Week is testing the resistance line. Bears need the bearish engulfing in daily chart to take effect. Weekly chart is more crucial. A bearish bearish weekly candle here will strengthen bears.
  • Bulls need to save the weekly candle to stop a down swing from happening.
  • 10680 and 10660 are possible supports in Nifty. If these levels are broken on daily closing basis then bigger down swing may follow.