April 14, 2013

  • Google daily chart shows price moving up and pausing at 50 Day SMA. Unable to break above it should resume the fall.
  • Weekly chart shows crucial support levels at 20 week SMA and 38.2% Fib level. Weekly MACD shows a sell signal, If the above mentioned support levels does not held we may see a bigger correction.

  • Facebook daily chart shows price near the apex of  a contracting pattern. 
  • Daily chart shows possible support at 50 Day SMA. Price has to sustain above it for a breakout to happen.
  • Resistance shown in weekly chart is the 20 Week SMA. Weekly candle has to close above it for confirming a breakout.

  • SILVER Weekly chart testing the support level near 26.
  • Daily chart continues to break support levels.
  • Monthly chart is shown with Fib levels and the support zone shown in the first chart. If the support zone around 26 is not held then Silver may test the Golden ratio around 24 levels.
  • Weekly chart shows a bearish engulfing pattern.
  • Price testing 100 Day SMA. Weekly chart too shows price closing below 20 Week SMA or Middle Bollinger Band.
  • Price sustaining below 20 Week SMA may extend gains for bears possibly towards the lower BB in the coming weeks. For Bulls price must hold above 100 Day SMA for a possible bounce to happen.


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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