May 9, 2013

 
  • Gold four hour chart shows price in a range. Its a 47 point range in four hour time frame.
  • Price is getting resisted at Golden ratio shown in four hour time frame.
  • Weekly chart shows crucial support at 200 Week SMA.
  • SILVER TRIANGLE PATTRN


UPDATED CHART
  • Triangle shown in the below post has given a breakdown.
  • Crucial levels of silver on the downside are 23.20, 23 and 22.55 
 WEEKLY CHART
  • Silver 4 Hour chart in a triangle pattern. Price closing outside this pattern may result in a bigger move.
  • Fib levels of 4 Hour chart shows price stuck in a range between 23.6% and 38.2% Fib level which has to resolve for an extended move to happen.
  • Last chart the weekly time frame shows the broken level of 26 as resistance. Any up move from here will find it tough to cross the previous support level of 26.
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  • TCS is approaching 50 day SMA and Golden ratio as shown in daily time frames.
  • Weekly chart is at 5 Week High ema.
  • Weakness at these levels may give short trade. Weekly close above 5 Week High EMA May favor bulls to extend the bounce.

 
 
  • Apple managed to close above 100 Day SMA.
  • Price is testing the cloud top. A daily close above the cloud will confirm further strength to extend this up move.
  • Weekly chart shows Apple bulls well placed with a Weekly MACD buy signal and above 20 Week SMA. Price sustaining above Weekly Middle Bollinger band on closing basis may lead to a larger pullback in Apple.

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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