- Crude oil week and Daily chart shows price bulls trying to stay above crucial support levels.
- 4 Hour chart shows price staying below the cloud. If price gets resisted in the cloud then the support levels mentioned in the higher time frames may not work.
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- Three charts all showing Gold testing crucial resistance zone. Gold bulls must close price above these levels to keep the current upward momentum intact. Weakness here may favour gold bears for a correction.
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- ES Bulls managed to close above the triangle.
- 2nd chart shows possibility of a bigger up move if crosses 2400.
- Bulls need to stay above 2376 to keep the upward momentum intact.
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- ES 4 hour in a triangle pattern.
- Price continues to stay below the cloud in 4 hour time frame which will keep bears interested. But bears need price to close below 2354 for bigger down moves to follow. Close above 2376 may take price back towards the recent high's
- CRUDE OIL SUPPORT LEVELS
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- If weakness persists Price likely to test the support line and 100 week SMA. These 2 levels are around 46 levels. If holds a bounce is likely from 46 levels.
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- Gold one hour chart shows price trying to stay above hourly cloud.
- Fib levels shows price pausing at 23.6% Fib level.
- If fib level shown above is crossed then the broken support resistance zone shown in chart 2 is possible. A bigger reversal may not be possible till price stay below the resistance zone shown in chart 2.
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- Crude oil weekly chart testing possible support line drawn from 26 levels through 42.
- Fib levels shows price getting resisted at 78.6% Fib level, But the correction towards 61.8% Took many weeks to happen.
- Now if the Golden ratio does not act as support price may fall towards 100 Week SMA and a support line drawn in the same chart.
- GOLD Trend and Channel
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