- ES Daily chart shows price moving above 2450 resistance zone. Weakness for This bullish setup only if price starts to close below 2450 zone.
- Second chart shows the failure of Bears to keep price below 50 Day SMA. Those failed breakdowns led to bigger up moves in favour of bulls.
- 4 Hour chart shows immediate support levels 2450 and 2445 respectively for bulls.
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- ES 4 Hour chart shows price near crucial support zone of 2415.
- Daily too has a rising 50 Day SMA as support. Break of these two levels may lead to bigger correction.
- Weekly shows negative divergence. This can either work well for bears with good correction or price may start to move sideways followed by an upper breakout. I am expecting a correction if price start to trade below 2400 levels Targeting 2315 levels.
- ES testing resistance zone 2400 level.
- 2375 and 20 Day sma are immediate support levels. Bulls need to keep price above 20 Day SMA. Closing below this level may start a down swing.
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- ES Daily chart testing the High's. Weakness only if price falls below 2375 levels. Closing below 20 Day SMA will also help ES bears with a correction.
- Bulls may continue the up run, in the same way the Double top possibility too exist. Bears may make a comeback below 2375, Bulls remain strong if price does not close below this level.
- GOLD Trend update
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- ES Daily shows possible support level at 2317. Rising 100 SMA too may reach this level soon. Immediate resistance is the broken 50 Day SMA. Bears need to keep price below 50 Day SMA. Bigger weakness only on price closing below 100 Day SMA.
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- Daily chart shows a triangle contraction.
- Possible trend change on closing below the cloud. As its a triangle false spikes are possible before the bigger directional move can happen.
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- Convergence of 20 and 50 Day SMA shows that a breakout or breakdown is imminent. Levels to Watch on closing basis are 2365 and 2335.
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- Bulls getting support at 50 Day SMA
- 20 Day SMA is the immediate resistance line
- Crucial support and resistance numbers are 2330 and 2365. Need to resolve this range on closing basis for bigger moves to follow.
- ES MONTH With SPINNING TOP CANDLESTICK
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- ES Month has a spinning Top. This candlestick is important to note as it has come After a Big bullish Move.
- Bulls will remain strong above Feb Month High (2370), Below this level bears has hope, Strength for Bears Below March month low 2317. A Dow trend may start if stays below Feb Month Low 2264.
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- ES 4 Hour and Daily charts with possible resistance levels for the bounce.
- Only a Daily close above 20 Day SMA will strengthen bulls again.
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- ES Daily shows support at 50 Day SMA and 23.6% Fib level. Bears need to close below these levels to extend the correction.
- Resistance levels on the way up are the broken 20 Day SMA and Broken support zone near 2360.
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- ES Month chart continues to look good for Bears. If closes like this or lower could lead to a Pause or correction in the following months.
- Daily chart is testing 50 Day SMA. Closing below this line can lead to further weakness.
- Immediate resistance zone is shown in 4 hour chart. Bulls need to close above this zone for further up moves to follow.
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- ES 4 Hour chart shows price violating support levels. The shooting start remains the Top for Now.
- Daily chart is approaching 50 Day SMA. Bigger bearishness if price closes below this line.
- Month chart shows March month candle developing bearishness. But bears need to close the month like this to confirm bearishness.
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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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- ES staying below 4 hour cloud will favour bears on up moves or bounces.
- One hour cloud is acting as immediate resistance. Bears may loose momentum if price starts to stay above Hourly cloud.
- Last chart shows possible support levels if price starts to fall further.
- GOLD Trend and Channel
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- 4 Hour time frame shows price Falling from the Shooting Star. Price testing 100 Period SMA, A crucial support line for Bulls to hold above.
- Weekly chart shows negative price action This was preceded by a Weekly candle with long upper shadow. But its early days to talk about the week, Bears need a weekly close at the current levels or lower to confirm bigger weakness.
- Day is near 20 Day SMA. This line has acted as strong support recently.
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