My blog Analyses the trend and patterns of stocks, Futures, Commodities and Forex Markets
March 1, 2018
CRUDE Oil testing 50 Day SMA
- First chart shows price getting resisted at previous broken support level around 64. Price is now heading towards 60.70 levels. If daily candle closes below 50 Day SMA then a bigger fall is likely towards 100 SMA or 58 levels.
- ES Charts after closing bell
February 28, 2018
ES Chart analysis after closing bell
- ES Daily chart shows a bearish engulfing. This set up will look good only if price closes below 50 Day SMA in daily time frame.
- 4 hour charts are shown with crucial support and resistance lines. Price for now is testing the support line of the rising wedge pattern. This pattern mostly resolves in favour of bears after an up move.
February 27, 2018
ES Chart analysis before opening bell
- Month candle shows the 200 plus points recovery But with one more day for month close the month candle is likely to be a Doji one. If March month is going to be a bearish one, Month will complete a Bearish set up.
- 4 Hour chart shows a possible rising wedge pattern. This mostly ends in favour of bears.
- 30 Minutes chart shows price trending above the cloud. Bears need a cloud break in this time frame to see weakness.
NIFTY Intraday and Month chart Analysis
- Nifty hour chart is testing resistance zone
- Day is also struggling at 50 Day SMA. Bulls will gain more strength only if price closes above 50 Day SMA. Day close at the current levels or lower will be negative for bulls.
- Month chart is shown with crucial price zone of 10530. Month close below this level will confirm bearish engulfing in Month chart. So with one more day to go for month close this price action is important.
February 26, 2018
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