September 3, 2011

  • NFLX is resting on weekly cloud. Price is close to the weekly trend line. And with the stochastic reaching oversold levels chances of an up move seems to be high.
  • Important support levels for bulls to protect on weekly chart are 204 and 194.
  • GOLD BREAKOUT
  • EURUSD AND US DOLLAR CHART ANALYSIS
  • If price continue to stay above 5 day high EMA and 20 SMA then this up move will sustain till the GAP are mentioned in the second chart.
  • Weekly parallel lines are also crucial. price having taken support near the lower parallel line is staying near the middle parallel line. If weekly candle closes above the middle line then bulls will be able to extend this up move. Failing to move above the middle line will favor bears.
  • GOLD RANGE BREAKOUT
  • US DOLLAR AND EURUSD CHART ANALYSIS

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"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