- Crude oil continues to give bearish breakdowns as seen in daily chart. Descending triangle discussed in an earlier post has worked well for CL bears.
- Right now price is testing crucial support zone as shown in Month Time frame. Price action for now looks bad for Bulls of crude oil.
- First two chart shows possible support levels in One hour time frame.
- 4 Hour chart shown with a possible support line.
- Bigger fall only if price closes below 100 Hour SMA and the Hourly cloud.
- Resistance levels for reliance industries in daily chart.
- Close above 1013 levels will strengthen reliance bulls further.
