- Crude oil is at a confluence of support and resistance. If the support line shown in 2nd chart is held a bigger breakout is possible.
- Resistance line has worked well so far But after the Initial drop price is likely to test the resistance line again. One has to wait and watch if it holds or price moves past the line towards 52 levels. Weakness below 48 levels.
August 3, 2017
July 27, 2017
- 4 Hour chart shows price breaking above a crucial resistance line. Pattern in four hour is a possible basing formation for further high's. Bullishness will sustain if price continue to stay above 48 levels.
- If price stays above the resistance line then it could target 50 and can also move towards 52 levels. Weakness resumes below 48.
July 25, 2017
- Daily chart shows Alphabet reacting from Daily resistance zone.
- A Down swing can only happen if price sustains below the Hourly cloud.
- Weakness on hour and day on Google closing below 975 levels. Staying below 975 price may target 950 and 935 levels. Bulls need to keep price above the Hourly cloud to avoid this scenario.