- ES 4 hour chart shows a bearish Shooting star or Inverted hammer candle.
- Bears should keep in Mind the Higher time frames like weekly chart. Week shows nothing for bears. The upper shadow of the current week candle must grow large before the end of the week to get bears interested again.
-->
- Gold 4 hour chart shows price testing 100 Period SMA. Bullish candle at the current levels can lead to a reversal.
- As the second chart shows price is staying below crucial support lines. Gold bulls need to get back above these lines to avoid bigger correction.
-->
- Crucial support for Gold at the 100 Period SMA. Closing below this line may extend the weakness seen in this time frame.
-->
- Weakness is seen in one hour time frame
- Hourly chart shown with immediate support levels.
- Strength resumes if price moves back above 8905 levels
-->
- Nifty hour shows possible bearish price action from a rising wedge pattern. But bears need to sustain below 8900 levels for bigger falls to happen in their favour.
- Daily too has a bigger Rising wedge But one has to wait few more sessions to understand how this one takes shape.
- Crude oil bulls failed to close near the High's.
- Weakness only if price starts to stay below 50 Day SMA. Upper breakout opportunity exists if price continues to stay above 50 Day SMA.
-->
- Price yet to hit the resistance line.
- 4 Hour chart shows price in a small range. Price may make new high's to hit the resistance line.
- 50 Period SMA acted as support. Bears need a close below this line to start correction in this time frame.
-->
