- ES moved back into the bullish zone
- The Bounce from 200 Period SMA of 4 hour chart. That line was violated only for a while. The violation was only to trap more bears into believing that a real breakdown is about to happen. When enough bears are trapped Market moves up again.
- Immediate resistance at 2485 levels.
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- ES 4 hour chart shows price moving back towards the broken moving average and Ichimoku cloud. Bears must keep price below this level to keep the weakness intact.
- One hour chart shows a descending triangle pattern. If price moves back above the falling resistance line Bulls may regain momentum. Bears need price to fall back below the support zone highlighted in one hour chart.
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- NIFTY Bulls found support at 50 Day SMA.
- One hour chart shows price moving towards the cloud. For a complete reversal price must move back above the cloud.
- Hope for bears exist till price stay below the hourly cloud.
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- ES Daily closes below 20 Day SMA.
- Recent closes below this line did not give a smooth down swing for bears. Bears expecting it to be different this time.
- 4 hour chart shows price testing crucial support zone. Bulls must stay above 2563 to avoid further damage.
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- ES testing crucial support zone and moving average
- 4 Hour is trying to hold above 200 Period SMA.
- Price for now is bouncing from this line. Bears will gain further momentum if price closes below this zone.
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- Nifty one hour with cloud shows a down swing in place.
- Last hour shows a possible inverted hammer which is bullish. But this move if it happens will be against the prevailing trend.
- Moving averages also suggesting a strong down move in place, at least till now.
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- Price falling towards last week low again. 4 Hour chart too shows 2563 as a crucial price pivot zone. Closing below this zone means a close below 20 Day SMA line in daily time frame. So its crucial for bulls to protect this zone.
- CRUDE Oil chart analysis
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