April 13, 2013

  • Gold has broken below the weekly range. Price closed the week Below 1500 level.
  • Now next crucial support levels in weekly chart are the 200 Week SMA near 1430 levels and the 38.2% Fib level shown in monthly chart near 1450 levels.
  • So price is expected to test 1430 - 1450 level in the coming weeks. Any up move will find resistance around 1510 - 1530 levels.

  • INFOSYS Daily chart has faded the previous result gap near 2300 levels.
  • Monthly chart shows price in a range. Price is falling towards the support area of the range.
  • Daily chart is showing a possible Island reversal pattern. Weekly MACD shows a sell signal which may lead to a range breakdown. One must be cautious on going against the current trend. 


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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