June 3, 2012

  • Weekly chart has closed below 50 Week SMA.
  • Daily chart closed below support levels and 200 DAY sma.
  • 38.2% Fib level too has broken on closing basis. 
  • For bulls day is showing chances of a positive divergence. Price may continue to fall before the divergence takes effect. Immediate resistance levels are 200 Day SMA and 129.55


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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