ES Chart analysis before opening bell

• ES 4 Hour time frame shows price nearing possible support zone.
• Bulls may resume if 2820 holds.
• Bigger weakness only if price breaks below 2820 and the 4 hour cloud.
• GOLD SUPPORT ZONE

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GOLD Test of the Bull Swing

• Gold 4 hour shows weakness as price falls to the cloud and 100 SMA. 
• Violating these levels may hint of bigger weakness.
• Taking support here may resume the bull swing again.

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CRUDE Oil Path towards Month resistance line

• Month chart shows possible path toward the falling resistance line from 147 levels. This set up will be negated only if the red support line drawn in Month time frame gets violated.
• Daily channel looks strong. Immediate support with 4 hour cloud. weakness in 4 hour cloud only when price starts to trade below the cloud.

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ES Chart analysis

• ES Hourly cloud continues to act as strong support. Short term weakness only if price starts to sustain below hourly cloud.
• 30 Minutes chart shows a diamond shaped contraction. It will be interesting to see if price respect the boundaries of the pattern on the right hand side. If price violates these lines early then the pattern will stay invalid.
• Daily chart shows another possible Doji Day. This shows indecision at top. It may be followed by weakness or a breakout towards the direction of the prevailing trend.

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CRUDE Oil Trading levels

• Crude oil bulls managed to hold above 4 hour cloud and is testing recent high's.
• One hour chart shows immediate support zone falling below which a shot trade is possible towards 63.70 and 63.10 levels. 
• More strength if sustains above recent high(64.89)

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ES Ascends getting steeper and steeper

• ES Daily rising like a cobra. Moves are becoming almost vertical.
• Daily RSI is showing Historic or Extreme overbought readings. But the Extreme readings are not helping bears due to the strength of the prevailing trend. 
• Since the move is getting too vertical it must end or at least a sideways to negative correction is possible.

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ES 4 Hour chart update

• ES 4 Hour breaking away from the ascending triangle contraction.
• Pattern breakout suggests a possible move of about 30 points from the resistance zone. Price is almost reaching the target levels. Now weakness in this time frame only if price falls back below 2807 levels.

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