December 1, 2011

  • Price sustaining above 200 Hour SMA may lead to a breakout above the resistance line in hourly chart and an up move towards the resistance line in weekly chart.
  • If price falls below 200 Hour SMA it may give good correction
  • Dell is near the resistance line of the triangle pattern.
  • A bigger up move will happen if price is able to breakout of the triangle pattern.
  • Price is staying above its 50 and 200 Day Simple Moving Average. For this up move to extend price has to breakout above the resistance line.
  • Getting resisted at the resistance line or the upper bollinger band will result in a correction towards the base of the triangle pattern.
  • Silver is moving towards the resistance line of the triangle shown in daily chart.
  • Price is staying above 50 Day SMA which will favor bulls. A bigger up move will be possible only if price breakout of the triangle pattern.
  • Price falling below 50 Day SMA will be negative for silver bulls.
  • ES is getting resisted at the resistance line of four hour time frame.
  • For bulls price need to stay above this line for continuing the up move.
  • Daily resistance line is yet to be tested. Area between these two resistance line it seems will be tough to cross for bulls.

  • Price is getting resisted near 50% Fib level and 50 Day SMA.
  • Gap shown in hourly chart may be partially filled before the next up move happen to break above the resistance levels.
  • Up move might happen but between 5000 - 5060 there are many resistance levels. This area has to be crossed for bigger up moves to happen.


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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