November 18, 2011

  • For crude oil corrections will be shallow as long as this trend line holds.
  • S&P 500 ANALYSIS AFTER CLOSING BELL

  • Price having broken 61.8% may come down towards 78.6% or the GAP shown in the same chart.
  • Stochastic is oversold, In a trending market trades taken based on oversold indicators mostly hits the stop loss. So its better to wait for that daily green candle which may hint of a pause in falling.
  • Last 3 months price has tested sub 4800 levels when ever it falls below 5 month low ema. So price may keep falling once it sustains below 5 month low ema.
  • S&P 500 EOD ANALYSIS
  • SILVER CHART ANALYSIS
  • Line chart shows SPX  closing at a crucial level.
  • For bulls 50 Day SMA has to save them from a bigger correction. Closing below 50 SMA may result in bigger falls.
  • If 50 SMA holds Price may bounce towards 1250 levels 
  • GOLD CHART UPDATED
  • SILVER CHART UPDATED

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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