- Crude oil 4 hour chart shows resistance for crude bulls at 54.50.
- 100 Period SMA and cloud are crucial support levels for this time frame. Staying above them another breakout above the resistance zone is possible. Weakness in this time frame on price closing below the cloud.
- GOLD Making another bullish move
-->
- Crucial resistance levels or targets for the current up move is between 50 Day SMA and 8274.
- 50 Day SMA is at 8247 , 200 Day SMA is at 8261 and the recent swing high is at 8274. If the momentum holds price likely to test these levels.
- Price in 15 minutes has to stay above the cloud to keep the momentum intact.
-->
- Nifty is testing crucial price level in Daily and Hourly time frames. 20 Day SMA, Round number at 8100 and 200 Hour SMA. Bulls can gain further momentum on a daily close above this level.
- Weakness only if price falls below 8021 levels on closing basis.
- GOLD Making another bullish move
-->
- Gold bulls trying to move above 100 Period SMA and Cloud In 4 Hour chart after a Long GAP.
- Gold Bulls can gain more strength only above 1152 and 1167 levels for a bigger bounce to follow.
- Weakness resumes below 1136.
-->
- Hourly price structure looks bullish and will stay bullish only till price stay above 8021 levels. Moment price breaks below 8021 Bulls become weak with a chance to retest the recent lows again.
- Break above 8100 and 200 Hour SMA will strengthen bulls further.
- 15 Minutes is also stuck between 8021 and 8100
-->
- Daily chart shows 20 Day SMA as immediate resistance. If Bulls able to close above 20 then 8274 and the falling resistance line shown in chart 1 will act as resistance BUT The bounce is already loosing momentum. Bulls need a close above 8100 to extend this bounce further. More weakness if Price starts to trade below 8000 levels.
-
NIFTY support levels
-->
- Crude oil 4 hour chart trying to form a bullish ascending triangle kind of pattern.
- Rising cloud of this time frame is crucial support
- Immediate levels to watch are 54.50 and 52.09
- CRUDE Oil Weekend update
-->
