May 13, 2013

  • Facebook one hour chart getting support at the small gap and golden ratio shown in chart one and two.
  • Immediate resistance level at 50 Hour SMA.
  • Breaking these levels on closing basis may result in a bigger move.
  • Apple hour chart is getting ready for a bearish cross with 20 and 50 Hour SMA.
  • Crucial levels to break are 450 and 23.6% Fib level.
  • Strength on price closing above 465 level.
  • Silver shows a small inverted head and shoulders pattern in 30 Minutes chart.
  • Sustaining above the resistance levels shown in chart 2 may lead to a bigger up move.
  • Weakness on falling below 23.44 levels.

  • Gold 30 Minutes chart shows resistance at 50 period SMA and 30 Minutes cloud. Sustaining above these levels may result in an up move.
  • For a bigger up move price must sustain above 1441 levels as shown in the one hour chart.

  • SBI One hour chart shows price contraction.
  • 15 Minutes chart shows a small triangle within the larger pattern shown in one hour chart. Breakout from the smaller pattern may give direction for the bigger pattern.

  • Reliance capital at multiple resistance levels.
  • For the up move to continue price must break 50 and 100 Week SMA. Price is also near the 38.2% Fib level.
  • Above 387 price may target the 200 Day SMA at 397. Weakness below 371. Up move will weaken if price starts to trade below 351 and 347 levels.

  • ES near Hourly range bottom and also testing crucial supports like 100 Hour SMA and Hourly ichimoku cloud.
  • Breaking or closing below the range low may result in a bigger correction.


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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