CRUDE Oil resistance levels

• Crude oil testing 200 SMA possible resistance line
• 4 Hour and Weekly chart shows resistance zone between 41 - 42. 

ES Trend update

 

 

• ES Daily chart shows a possible resistance line. Some more bullishness needed for price to hit this line.
• Crucial support levels shown in 4 hour chart. Bears need to stay below these levels for the correction to start.

CRUDE Oil candlestick Analysis

• Crude oil month chart is trying to form a bullish formation. February Month candle confirmed a pause in selling as price came back to close near the candle high's. March Month though is closing well off the High's which is a worry for Crude bulls.
• Weekly chart is trying to form a Pin Bar Kind of reversal formation pending confirmation from current week. Bears need current week candle to close near the lows to extend bearishness in to the coming week.
• Daily chart continues to stay below 200 Day SMA which is a big worry for Crude bulls.

CRUDE Oil Chart update

 

• Crude oil month candle shows an upper shadow which suggests loss of momentum for bulls. Weakness also coincided with the presence of 200 SMA in daily chart. So bullish momentum will return only when and if price closes above 200 SMA.

ES Support Levels

 

 

• ES 4 Hour chart and Daily charts with support levels.

GOLD Weekend update

• Gold weekly cloud may act as strong support if price extends correction towards it.
• For now the Weekly resistance line is working for Gold bears. Gold bulls need to stay above this resistance line for a bigger move to follow.
• 4 hour chart shows weakness as price stays below the cloud.

CRUDE oil weekend update

 

 

• Month chart shows a possible bullish month candle pending close. Price closing towards the higher end of the candle should extend this up move towards 50 levels in the short term. Day too needs to close above 200 SMA for this move to materialise.
• 4 Hour chart shows a crucial support line