January 6, 2013

  • Weekly chart shows price closing above resistance level.
  • Weekly Fib levels shows price approaching 50% Fib level.
  • Monthly chart shows price nearing Top bollinger band at 14 levels.

  • Weekly chart shows price closing above the recent swing high in weekly chart.
  • Second chart shows a possible channel resistance, Bears must hope to see some weakness at this line for a possible correction.
  • Last chart shows the support levels, GAP between 84.43 - 86.04 and the up trend line. Correction up to the above mentioned levels may give another buying opportunity. A bigger correction may happen if the trend line gets broken.


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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