April 17, 2018

NIFTY Chart update | Fib levels and Ichimoku cloud

  • Nifty daily back to ichimoku cloud
  • Price also nearing crucial Fib retrace levels.
  • Weakness likely to resume around the current levels or close to Golden ratio.

CRUDE oil chart analysis

  • Daily chart shows price staying above crucial resistance zone.
  • Price has to stay above 66 levels to avoid a false breakout situation which will be negative for bulls.
  • Month shows price violating 200 SMA. Bulls need a month close above this line to confirm bigger strength.