- Crude oil weekly chart shows price near the resistance line. For bears of CL needs the coming weekly candle to be a Red one to confirm weakness.
- 4 Hour chart shows a small range. Considering the resistance line in weekly time frame a Close below the range will favour bears of CL.
- Daily time frame with RSI shows high overbought levels.
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- NIFTY Daily shows price falling towards previous resistance line which may act as support.
- 4 Hour chart shows possible support zone at 10250.
- One hour shows a break below the cloud. This is a possible down swing situation but for this time frame to work the bigger time frame must break the support levels discussed. Close below 10250 will add strength for bears.
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- Spinning Top is seen in weekly time frame. During an up trend this candlestick shows indecision.
- Daily shows support at 20 Day SMA. Bears need a close below this line.
- 2572 and 2563 levels are important for bulls to defend.
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- ES one hour got resisted near the cloud.
- Price is testing support levels in four hour chart.
- If weakness continues, yesterday's low is likely to be tested again.
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- 4 Hour cloud base acted as support zone. The violation below 100 SMA did not last, Exactly how it happened last time when price violated this line.
- For now one hour shows immediate resistance at 2584 zone and the cloud. Small correction may resume if price stays below the hourly cloud.
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- ES 4 Hour chart shows price violating crucial moving average line. Last violation of the line was short lived. Bears hoping for a close below this line and the 4 Hour cloud this time for a bigger down swing to follow.
- Weekly chart too looks good so far But with one more day to go for the weekly close things may look totally different by this time tomorrow.
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- ES 4 Hour chart shown with 100 Period SMA. No trend change possible unless this line is broken on closing basis.
- Bears in daily is trying for Bearish engulfing pattern. Bears need a close below 2583 levels to confirm.
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