March 21, 2013

  • EURUSD Daily chart needs to hold the current swing low and a close back above 200 Day SMA for a bounce to happen.
  • 4 Hour chart is trending down below the cloud. For a reversal price need to sustain above the cloud.

  • Facebook daily below 100 Day SMA But price is nearing its 200 Day SMA.
  • Fib levels shows price testing 50% Fib level.
  • Next price support is at 25.15. If this level and 200 SMA holds an up move is likely to happen
  • Silver four hour chart shows price near range resistance zone.
  • Daily chart with fib level shows price testing 23.6% Fib level.
  • Crossing the above mentioned levels could give an up move towards channel resistance line as shown in the last chart.
  • Four hour chart shows price testing crucial support levels.
  • Daily chart shows price testing 78.6% fib level
  • Holding above these levels could lead to a bounce. Breaking them may give sub 5600 levels for Nifty bears.

  • Bank nifty weekly chart shows price testing the long term up trend line.
  • Weekly chart also shows price falling towards 50 Week SMA. There is also a resistance zone turned support around the same level. So together these levels may try to stop the current down move.
  • A weekly close below 50 Week SMA will extend gains for bears of BN.


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"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