CRUDE Oil Chart update

• Crude oil one hour is nearing 100 Period SMA.
• Price in a bearish channel in one hour. This is mostly bullish in a major up trend. 
• Price is also near weekly resistance line.

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CRUDE Oil Trend update

• Crude oil week is nearing a possible channel resistance line.
• Weekly bearish candle at the resistance line may signal a reversal in price.
• One hour time frame shows price trending above 100 Period SMA. First signs of weakness if price starts to close below this line.

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NIFTY Rising wedge update

• Rising wedge is helping bears so far But they need to break support levels shown in hour chart. Hourly cloud base is around 10300 levels. Bears need a close below this level to extend this down move towards the Target level for Rising wedge breakdown.
• Failure to close below hourly cloud may work in favour of the Bulls.

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ES Analysis after closing bell

• First chart shows the 4 hour time frame with a possible false breakout situation. Mostly when price falls back into such patterns it does a Swift move in the opposite direction of the breakout. But here ES is still in strong up trend and hence the momentum for bears is missing.
• As chart 2 and 3 shows there are plenty of strong support zones for bulls which has to be violated for a bigger correction to be seen. As of now Bulls remain safe and strong.

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S&P 500 Futures chart analysis before opening bell

• ES 4 Hour chart shows price trying to stay above previous resistance line. Bears hoping for a false breakout to play out. Price closing back into the pattern may favour bears for the day.
• 2585 and 50 Hour SMA are crucial support levels in one hour chart

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NIFTY Rising wedge cloud and Hanging Man update

• Rising wedge in hour is showing some hope for bears. Bears also need a close below 30 Minutes cloud to confirm weakness. 
• Bulls need to Hold above 30 Minutes cloud to negate the bearish setup.
• The Hanging man candle lost its effectiveness yesterday when price did new high's. But today's price action so far looks good for bears. Bears though need a close below 10400 levels to confirm weakness.

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ES Hour on the Resistance line

• One hour and 4 hour are testing resistance lines
• Bearish signals continue to struggle because of the primary trend. For this one bears need help for the resistance line.
• Weakness if sustains below 2580 levels.

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