- Crude oil daily has fallen below 200 Day SMA. Crude bears trying hard to keep price below this moving average. Daily close above this line may result in a bounce.
- Next 2 charts shows crucial support zone. Daily close below 43 may take price towards 39 levels.
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- Nifty bounced from 8000 levels as shown in weekly chart.
- Daily chart too shows price bouncing from 200 SMA. Price did violate the line But bears unable to keep price below it.
- For now Bulls erasing most of the Mornings losses.
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- If the lead stay as it is the fall continues.
- 50 Week SMA is getting tested again. Bears need to stay below this line for a bigger fall to follow.
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- Gold 4 hour charts shows price testing crucial support resistance zone. Looks like a topish formation in 4 hour chart But this can change if the support levels discussed is not broken convincingly.
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- ES Month chart shows fall After MACD Negative divergence. This can extend if the 50 Week SMA is not held. But everything is happening above trend line from 665 levels or year 2009 lows. For a bigger correction this bullish structure must break.
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- Hourly cloud shows price trending below it from 50 levels. Now price is approaching the 200 Day SMA. More weakness if this level is not held.
- Weekly chart earlier got rejected at the 50 , 51 , 52 zone. A Bigger bullish pattern is stopped for now.
- S&P 500 Analysis after closing bell
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- Weekly chart shows weakness as price falls back into the Multi Week 300 point range.
- Daily chart shows price testing 200 Day SMA. Last fall below this line did not give bigger gains. Bears are hopeful this time.
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