February 23, 2018

GOLD Chart Analysis

  • Gold 4 hour chart shows a bearish M shaped correction. Next level to watch is 1322. Below 1322 price should fall to the Main support zone between 1305 - 1310. For the Day bullishness above 1334 levels.

CRUDE Oil daily chart update

  • Crude oil daily is testing previous broken support zone(63) which may act as resistance now. Daily close back below 20 Day SMA will also be negative for crude oil.
  • Crude bulls need price to sustain above 63. 

ES Chart analysis before opening bell

  • ES one hour is in a triangle contraction. After the noise of the hour if Daily gets a close above 20 SMA then a bigger up move is possible. But 20 SMA is consistently acting as resistance for the past 5 Daily candles So bears too has a hope on this line. As far as numbers goes strong bulls above 2736 and 2750 For bears its below 2682.