March 15, 2018

AMAZON.COM Intraday update | One hour charts

  • One hour shows a possible descending triangle with support at 1578. Price tested the level earlier and Bulls managed to stay above it. If it gets tested again bigger falls are possible. 
  • Hour close below 50 Hour SMA will give more momentum to Amazon bulls.
  • Bearish engulfing

ES Chart analysis before opening bell

  • ES 4 hour charts with crucial support levels.
  • Bearish for the day if price falls below 2740 - 2745 levels.
  • Bulls safe till price hold above the cloud in 4 hour time frame.

CRUDE Oil Descending triangle | Daily cloud update

  • Crude oil staying below the cloud will favour crude bears, But price is not showing any momentum for bears.
  • 4 Hour chart shows a descending triangle. This pattern is mostly bearish But can go in the opposite direction as well.
  • Bears need price to fall below 60 levels for a bigger down swing to follow.
  • Bullish above 61.60 and bearish below 60 levels.

AMAZON.COM Bearish engulfing | One hour charts

  • Amazon daily chart has a bearish engulfing pattern. As of now there is no momentum or followup price action for bearish engulfing.
  • Bigger weakness for the stock only if price starts to stay below 1578 levels. Bearish engulfing will stay intact till 1617 is not taken out.
  • Hour as of now is looking weak at the top.

ES Chart analysis after closing bell

  • Bearish PIN BAR continues to give good results for bears. Next stop is at the 20 Day SMA. Bulls is expecting a bounce at the 20 Day SMA. If 20 SMA does not give support then price may fall towards the 100 SMA as shown in chart 2
  • 4 hour chart shows a possible channel support line for the correction.