March 12, 2012

  • Daily chart shows 200 SMA as resistance and support between 32.40 - 32.60 levels
  • Hour chart shows possible rising support line Falling below which silver could touch 33.10 and 32.44 levels. 
  • ES Hour in a Triangle pattern.
  • For bulls of ES price has to sustain above 50 and 200 Hour SMA. 50 SMA crossing 200 SMA may help bulls.
  • Correction will be limited if price sustains above the hourly cloud.
  • FORD MOTOR GOLDEN CROSS
  • SILVER WEEKEND UPDATE
  • For bulls of gold price need to trade above 50 Day SMA.
  • For bears sustaining below 50 SMA and breaking the key support level of 1663 will result in good correction.
  • Fibonacci levels shown in last chart may act as support.
  • SILVER WEEKEND UPDATE

  • Reliance daily looks like it may give an oversold bounce. But price has to sustain above 50 Day SMA for the bounce to extend.
  • Weekly chart looks weak, Weekly stochastic does not look good for bulls of this stock. For avoiding a fall price must sustain above Weekly mid bollinger band. Unable to sustain above this level will result in a fall towards lower BB.
  • NIFTY WEEKEND UPDATE(GOLDEN CROSS)
  • Ford Motor Co is showing a bullish cross over and Possible bullish flag pattern.
  • Weekly chart shows price getting resisted at 38.2% Fib level. Week candle closing above this level will continue the up move.
  • SILVER WEEKEND UPDATE

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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