- Crude oil four hour chart looks like an ascending triangle.
- Hour chart is trading above 50 Hour SMA. Crude oil bears need an hourly close below 50 Hour SMA and the up trend line shown in four hour chart for a breakdown to happen.
- Daily and Four hour chart also shows price testing crucial resistance lines.
- ES Hourly chart trading above crucial support level. Support level of 1558 - 1660 is above 100 Hour moving average and Hourly ichimoku cloud. So weakness in hour chart only if bears manage to trade below the the hourly cloud on closing basis.
- Nifty daily chart managed to form a bearish engulfing pattern. Price closed below 5 day High EMA and for bears there is also a negative divergence between price and RSI.
- For bulls though the up trend is still intact and the current price action is happening above crucial support levels. Supports shown in chart 2 are crucial for bears to make price week should close below 6000 levels. Sustaining above these levels will favor bulls to extend the rally.
- Apple Hourly time frames at crucial levels.
- Price has to sustain above 50 Hour SMA and 30 Minutes cloud for the up move to extend.
- Falling back into the cloud will be negative. Positive on moving above 444 levels.
- GOLD WEEKEND UPDATE
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- Gold testing hourly cloud. Price must sustain above the cloud and 100 Period SMA for a possible trend reversal in this time frame.
- 4 Hour chart with fib levels shows immediate resistance levels.
- GOLD WEEKEND UPDATE
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- ES one hour trading above the cloud and support lines.
- 4 Hour channel shows price trading in the bullish part of the channel.
- GOLD WEEKEND UPDATE
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- Support in daily chart is seen at 332 levels.
- Daily MACD shows a sell signal But price has to close below 20 SMA for a bigger fall to happen. Taking support at 20 SMA may lead to an up move.
- Below 332 next support level is at 38.2% Fib level.
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