April 19, 2013

  • McDonalds daily chart shows trend line violation.
  • 4 Hour chart shows price falling towards the cloud. Holding above the cloud may avoid a bigger fall.
  • Weekly chart shows a bearish setup. Lower closing will confirm bearishness.

  • Gold 4 Hour chart shows price getting resisted at 38.2% Fib level.
  • 4 Hour chart also shows a bearish consolidation pattern.

  • Facebok testing crucial support zone in daily chart.
  • Price is trying to stay above 200 Day sma.
  • Daily MACD is looking negative for bulls of FB. Daily close below 200 SMA should lead to a bigger fall.
  • First chart of ES shows the crucial resistance line in One hour time frame. Sustaining below this line ES could give new lows.
  • For bears price should also sustain below the hourly cloud.
  • 15 Minutes chart shows an ascending channel. breaking below this channel will resume the down move.

  • SPY Testing crucial support level at 153.50
  • Price has closed below 50 Day SMA.
  • Weekly chart shows RSI sell signal. To confirm this price has to close the week at the current levels or Lower.
  • Nifty daily chart closed above 50 Day SMA.
  • Price is testing the Golden ratio.
  • Some more distance to go before price hits the crucial falling resistance line from 6111 level as shown in second chart. Price has to stay above 50 SMA for targeting the falling resistance line and beyond.

  • ES 4 Hour chart testing support level.
  • Daily chart shown with Fib levels. Price testing 23.6% Fib level. Bears need a close below these levels for a bigger down move to happen.

  • Silver four hour chart shows a possible bearish continuation pattern.
  • Price breaking above 23.91 levels will invalidate the pattern and will lead to a bigger pullback.
  • Breaking the support line of the pattern may give new lows for silver.


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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