November 30, 2012

  • SILVER Daily chart is getting resisted at 78.6% Fib level.
  • Bigger correction only if 50 Day SMA Gets broken.
  • 4 Hour cloud too has acted as support during this up move. Breaking below the cloud may lead to a reversal.
 
  • SPX Testing 50 Day SMA. 
  • Price also near Golden ratio.
  • Breaking above these two levels may take SPX Towards the daily cloud which for the current week is  at 1435 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