- Week time frame shows price reacting from resistance zone. Crude bears need to do more to confirm weakness in Weekly time frame.
- Day is above 20 Day SMA. Daily close below This line may result in an extended correction.
My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
November 29, 2017
CRUDE Oil support and resistance levels
November 28, 2017
ES One hour chart update
- Price near crucial support zone. Possible short trade in hour TF if closes below the cloud. Bulls need to stay above the cloud and 100 SMA to avoid weakness in hour.
November 27, 2017
ES chart Analysis before opening bell
- ES hour chart shows an Ascending triangle.
- Crucial support levels for the day are 2600 and the Moving average lines shown in chart 2.
- IWM Weekend update
November 25, 2017
IWM Weekend update
- First chart is the weekly time frame which shows the Huge broadening formation. Bulls are safe till price stay above the resistance line of this pattern. Once and If price falls back into the pattern bigger correction is possible.
- 2nd chart also the Weekly time frame shows possible target level of 156 Provided price stay above 150 levels.
- Weakness in smaller time frames if price fall below 150 levels.
- ES Weekend update
ES Weekend update
- ES Week chart shows price moving out of the closing range. Week close adds more strength for bulls. More up moves should follow by staying above 2580 levels.
- Immediate support in 4 hour chart is at 2593. Weakness in short term charts if price falls below this level.
- One hour chart shows price moving in a bullish channel.
November 23, 2017
NIFTY Chart analysis
- NIFTY Hour chart shows possible inverted head and shoulders pattern.
- Hourly cloud is crucial support area for bulls.
- Weekly structure is looking good for bulls. Last week candles long tail shows strong support. Weakness can be seen only if price falls below 10230 levels.
November 22, 2017
November 21, 2017
ES Support and Resistance levels before opening bell
- 4 Hour chart shows support at 200 Period SMA.
- Daily time frame with possible resistance at Upper bollinger band.
November 19, 2017
GOLD Weekend update
- Gold daily trying to stay above 50 Day SMA. Last attempt to stay above this line was failed. Immediate resistance for Gold bulls are 1298 to 1308. If price sustains above this level bigger up move is possible.
- Gold week has an Ascending triangle pattern. Another fall towards the rising support line of the pattern is possible before the big up move can happen. Resistance level for the Ascending triangle is at 1365. If the support line of the weekly pattern works well then price should visit 1365 level soon.
November 18, 2017
S&P 500 Weekend update
- ES Week does another neutral close. Another Doji candle suggests price likely to be Range bound for some weeks.
- Last chart shows price in a possible Flag. Price may remain slightly bearish But if continues to stay inside the Flag another upper breakout from the flag is possible.
CRUDE Oil chart analysis
- Crude oil 4 hour chart shows price moving back into the broken cloud.
- Bulls trying to avoid a bearish close for the week.
- Weekly chart shows price staying near the resistance line. Oil bulls must breakout here or face a weekly down swing.
November 16, 2017
ES Intraday update
- 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.
ES Chart analysis before opening bell
- 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.
NIFTY bulls find support at 50 SMA
- 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.
November 15, 2017
ES Chart analysis before opening bell
- 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.
NIFTY Hour Trend update
- 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.
ES Chart analysis after closing bell
- 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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