March 7, 2012

  • Gold daily chart will face selling pressure as long as price stays below 200 SMA.
  • Immediate resistance in hour chart is the Ichimoku cloud. A sustained up move will be possible only on a cloud break.
  • Hour chart also shows a bearish flag pattern. If the support line breaks we may see new lows in hour time frame.

1 comment:


All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.


Blog Archive

Powered by Blogger.

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