July 22, 2010

  • Dow Jones futures 4 hour chart with support and resistance line.
  • The index has given a break out. Now the closing should be near the high point of the day for this bullishness to sustain. 
  • The hour chart of gold suggest that the commodity is in a down trend.
  • It is holding on to an important trend line break of which will lead to more fall in gold prices.
  • Also see how the geometrical patterns show up in a stocks chart time and again.
  • Nifty weekly chart with stochastic indicator.
  • The indicator is in overbought zone and is yet to show any weakness.
  • Index is also respecting the weekly trend line.
  • A Break of the trend line coupled with a sell signal in stochastic should be a good place to go short.


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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