December 23, 2012

  • Daily chart near 50 Day SMA. Daily chart also shows price nearing  GAP.
  • Weekly chart shows 100 Week SMA as resistance level.
  • So confluence of resistance will make it tough for bulls to move up. 
  • Ford violating weekly resistance line
  • Price above Weekly ichimoku cloud.
  • Monthly chart also shows price above 20 Month SMA. Sustaining above these levels could lead to bigger up moves.
  • First chart shows weekly time frame with rising and slopping support lines.
  • Next chart shows 100 Week SMA as crucial support if the support line gets broken.
  • Last chart shows Monthly candle trying to hold above 20 Month SMA.


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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