May 3, 2013

  • Facebook one hour chart approaching crucial support levels.
  • Hourly close below 20 Hour SMA or 23.6% Fib level may extend the fall towards.

  • Gold four hour chart continues to show weakness at Golden ratio.
  • Weakness followed by a bearish Inverted hammer candlestick in 4 Hour time frame.
  • Price is getting support at the four hour cloud. Gold bears need to fall into the cloud for a bigger down move to happen.

  • Crude oil daily chart shows price resistance at 94.70  - 94.90 level. Price closing above this level may target 97 levels as shown in the last chart.
  • Up move is pausing at 78.6% Fib level. This level must be taken out on closing basis for a bigger up move to follow.
  • Last chart shows weekly resistance line, Resistance for the current week is around 97 levels.
  • SBI bulls will be weak on trading below 2225 and 2206
  • Strength on trading above the broken fib level of 23.6% Fib level.
  • up move will resume on price sustaining above the dotted resistance line.


  • Closing the week above the golden ratio and previous week high of 2360 will be bullish for the stock.
  • Price closing below 20 Week SMA (2277) will be bearish for the stock in the short term.
  • Daily chart is giving a correction followed by the bearish Inverted hammer pattern.
  • Price is also getting resisted at 50% Fib level and 100 Day SMA.
  • Close below 50 Day SMA may extend the fall of Crude oil


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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