December 10, 2012

  • Crude oil Daily chart shows support at 85.40 and 84.05
  • 50 and 200 Day SMA continues to act as resistance levels along with Daily Ichimoki cloud.
 
 
  • COPPER Shorter time frames are trending up.
  • Daily time frame has broken above a resistance line. 
  • Sustaining above the daily resistance line should take copper towards the resistance line of the weekly triangle shown in last chart.
  • SPY WEEKEND UPDATE
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  • ES 4 Hour chart with rising support levels shows a possible ascending triangle pattern.
  • Weakness on price falling below 50 Day SMA.
  • Strength on sustaining above the Golden ratio shown in last chart.
  • IWM WEEKEND UPDATE
  • QQQ WEEKEND UPDATE
  • SPY WEEKEND UPDATE
 
 
  • Last chart shows a failed breakout from the weekly triangle pattern which is not good for bulls. If price breaks the the support level of 5959 we could see bigger falls in CNX IT.
  • TCS CHART ANALYSIS
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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