December 8, 2016

  • Crude oil one hour chart shows bulls taking support at falling support line.
  • Bigger fall when and if price falls below 200 Hour SMA.
  • Bounce may last longer if price stays above 50 Hour SMA.
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  • One hour chart shows price moving towards the resistance zone near 8250
  • Price is moving around 200 Hour SMA.
  • Between 8249 and 8285 there is an unfilled GAP which may also act as resistance.
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December 7, 2016

  • Gold testing crucial resistance levels.
  • For a bigger bounce price must sustain above 50 Period SMA and the resistance line.
  • Weakness if price falls back below 1160 levels again.
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My Favourite Quote

"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis."
—Jesse Livermore