April 6, 2012

  • price traded in a small range and closed below 20 Day SMA. 
  • Last chart shows the small range(1392 - 1401) just above 200 Hour SMA. Once price breaks out of this range we will get a bigger move. 
  • Breakdown below 200 Hour SMA should target 1386 levels.
  • An upper breakout should help bulls to continue the primary trend.


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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