August 28, 2012

  • ES Daily chart with price inside a channel. Price is trading near the upper side of the channel.
  • Closing the day below 20 SMA could extend the call.
  • 4 Hour chart shows crucial support and resistance lines which has to be broken for a bigger move to happen. 

  • Silver hourly chart will continue to trend up on sustaining above 50 Hour SMA and Hourly cloud.
  • Turnaround in daily chart too will be safe on sustaining above 200 Day SMA. Daily close below 200 day SMA may turn things in favor of Silver bears.


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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