September 5, 2016

CRUDE Oil resistance levels

  • First chart shows previous broken support acting as resistance.
  • Price till stays below the 4 hour cloud will favour crude oil bears for another down swing in this time frame.
  • GOLD NEAR RESISTANCE ZONE
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GOLD Near support resistance zone


  • Gold nearing 1335 which is crucial support resistance zone. gold bulls need price to stay above this level for a trending up move to happen.
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September 2, 2016

CRUDE Oil chart update

  • Crude oil 4 hour chart shows price pausing at the golden ratio.
  • One hour chart shows price creating new lows. Bears will gain more strength below 43.01,
  • TESLA CHART ANALYSIS
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GOLD Resistance level for the bullish attempt

  • Gold bulls put up a falling wedge in Hourly pattern which was discussed yesterday. But the bullish attempt got stuck at 1318 level. 
  • Gold bulls must sustain above this level for a bigger bounce to follow. Unable to move above this zone may result in bigger falls.
  • TESLA CHART ANALYSIS
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September 1, 2016

GOLD Channel and hourly cloud and falling wedge

  • Gold 4 hour chart shows price continues to fall down in channel
  • Hourly cloud continues to keep price below it. gold bears will remain strong below the cloud.
  • There is a falling wedge pattern which will favour only if price starts to trade above 1314 and 1318 levels.
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Crude oil chart update

  • Crude oil 4 hour chart shows price falling from the Descending triangle pattern. Price could not hold above the rising trend line drawn in the same chart. Next possible target or support level if the fall continues is the 50% Retrace level drawn in Daily time frame.
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S&P 500 Futures analysis after closing bell

  • 4 Hour chart shows price crawling back into the range. But the up move does not look strong.
  • As far as price goes the crucial support level is between 2157 and 2164.  Daily chart also shows a rising support resistance line and 50 Day SMA as crucial support levels.
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