CRUDE Oil price contraction continues

• The triangles discussed earlier in 4 hour and one hour are yet to resolve. Volatility is likely to increase when price moves out of the triangle.

ES One hour shows weakness

• Trend line violation shows weakness in one hour time frame. Bears need price to sustain below one hour cloud for bigger correction to happen.
• SILVER SUPPORT AND RESISTANCE LEVELS

-->

GOLD Chart update

 

• Gold 30 Minutes chart shows a strong down move in place. 1320 and 1310 are crucial levels for gold bulls to hold above. Bigger weakness if price starts to trade below 1310 levels. 
• SILVER SUPPORT AND RESISTANCE LEVELS

-->

Silver support and resistance levels

• Silver trying to stay above 4 hour cloud which will help silver bulls to extend this up move. Weakness only if price moves or closes below the cloud.
• Weekly chart is approaching stiff resistance zone. 21.50 - 70 levels are previous resistance zone in this time frame. Price likely to consolidate below this level. For a bigger move on silver price must close above this zone.