February 2, 2018

CRUDE oil 4 Hour Daily time frame update

  • Crude oil 4 hour chart shows weakness But price is still inside a range. For now price is near the bottom of the range. Number 63.67 is crucial for bulls to hold above. Bigger weakness only if price sustains below this zone.
  • Crude bears need price to close the day at the current levels or lower to sustain the weakness into next week.
  • ES Chart Analysis

ES Chart Analysis before opening bell

  • Price has fallen below crucial moving average and 4 Hour cloud. For bears price need to sustain below these levels for bigger weakness to follow. Any bounce should sustain below 2835 zone from where selling may resume. Bullish if price gets back above 2835 levels. Bears has to keep price below 2818 levels to extend weakness.