- Crude oil weekly chart shows a bullish candle after 9 bearish candles in a row. Month chart is trying to form a bullish reversal formation which needs a monthly close at the current levels or higher. 4 Hour chart staying above the cloud will lead to more up moves.
- Gold week and daily chart shown with resistance levels. Daily shows bulls struggling as price moves towards 200 SMA. Gold bulls need a daily close above 200 SMA for potential reversal to happen. But then the Weekly cloud is acting as long term resistance which is going to be tough to cross above in the near term.
- DLF Weekly shows a possible falling wedge pattern. This pattern mostly works against the prevailing trend. For the pattern the levels 136 and 93 are crucial . One has to see a weekly close above 136 to confirm the pattern. While a close below 93 will keep the down trend intact.
- ES Weekly chart shows crucial support zone. Strong support seen at this level. Bears need to break below this level for bigger correction to happen.
- One hour chart shows resistance at cloud. Price need to stay above hourly cloud for bigger reversal to happen.
- The effect of bearish engulfing at top never went away. After few months of sideways move the fall has started again. For now the GAP in weekly chart is crucial if price continues to stay below it another big fall is possible. Bears need price to stay below the weekly cloud on closing basis to extend gains. Cloud base may act as support for sometime.
- ES weekly chart has fallen below the cloud But the smaller time frames are showing sharp reversals. If price stays below the weekly cloud then bears may resume after a pause or sideways move.
- 200 SMA is broken by EURUSD Bulls but as price moves up it is approaching crucial resistance levels as discussed in chart 2 and 3. Bigger moves are not possible till the levels shown in day chart is broken
