CRUDE Oil chart analysis

 

 

• Crude oil 4 hour chart needs to stay above 100 period SMA for a bigger up move to happen.
• One hour chart shows possible resistance levels.

ES Chart analysis

 

  

• Crucial support for one hour chart at 50 Hour SMA and the Hourly cloud.
• Previous resistance zone shown in 4 hour time frame too is acting as support so far.
• For bears need an hourly cloud break on closing basis for a possible correction to follow.

CNX IT Trend update

• Daily chart of CNX IT is consolidating after a down move, This is most likely a bearish continuation formation. Crucial level to watch is the 9050 level shown in first chart. If 9050 goes on weekly closing basis it will further weaken the long term trend.
• For bulls of CNX IT price must get back above 50 and 100 SMA to avoid a test of 200 Day SMA.

GOLD Trend analysis

• Gold hour trend continues to be down.
• 4 Hour and Daily chart is testing crucial support zone. Breaking below this level may lead to a bigger fall in gold.
• Gold bulls must get back above 100 Day SMA soon to avoid a bigger correction.

ES Chart analysis

• ES has broken above the resistance zone discussed yesterday. For now price is likely to retest the previous resistance zone if 50 Hour SMA is not held.
• First two charts shows immediate support levels If not held price may slip towards previous resistance zone.

BANK NIFTY Chart update

• Bank nifty weekly chart shows price pausing near previous swing high. Daily chart too shows A Doji formation near range High.
• Weakness in daily chart only when price starts to trade below 20 Day SMA. Possible weakness near upper bollinger band.

NETFLIX Analysis after closing bell

• Netflix Day and Weekly time frames facing multiple resistance levels.
• Bulls need a weekly close above 20 Week SMA to confirm a larger up move.
• Weakness on closing below 364 and 350 levels.