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- Weekly chart shows a strong trend in place. Price moved above the weekly cloud when it was at 25. After that Price tested the weekly cloud just once. Major trend of the stock will not be tested till price stays above the cloud.
- Daily chart shows good correction in favour of bears but Bulls continues to manage new high's. One such new high and much more is likely to be seen today.
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- Nifty and SP 500 Futures with similar charts. Both are testing crucial resistance level in daily time frame. A big sell signal or a bigger breakout is possible from here.
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- ES Daily continues to stay near the resistance zone at 2110
- 4 Hour chart shows price above the immediate support zone of 2071.
- So this range must resolve for bigger moves to follow.
- Weekly chart shows support at 92 levels But it can go lower if price decides to test the Monthly up trend line. Month up trend line is around 89 levels approximately.
- Daily chart shows the failures of bulls to cross the 200 SMA and all this while the death cross was in effect.
- Crude oil 4 hour chart show s price moving in a range between 42 and 44. Bigger moves only when this range gets resolved.
- Weekly chart shows resistance at 50% fib level Once and if crude bulls passes this level the Golden ratio at 48 is likely to get tested.
- Immediate support at 4 hour cloud. Rising cloud must be broken for a possible down swing to start.
- Possible reversal pattern in one hour chart. Bullish if price moves above 200 Hour SMA and the falling resistance line.
- Weakness below 2071 as shown in 4 Hour time frame. Bullish pattern shown in one hour will be negated if price stays below 2071 levels.
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- ES Daily testing resistance zone.
- ES One hour is at 200 Hour SMA. More weakness if price starts to stay below 200 Hour SMA.
