March 18, 2012

  • Weekly candle closed well above the weekly resistance line. Golden cross of 50 above 200 too is looking good for bulls as of now. Last Golden cross did not perform well, Death cross did very well, For the current golden cross price momentum looks good for bulls.
  • Approaching resistance levels are 20 Month SMA, previous support level which may also act as resistance and 38.2% Fibonacci levels.


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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