May 19, 2013

  • Gold bears extending gains below 200 Week SMA. Crucial support at 1321 if gets tested price could fall towards 1250 levels as shown in the second chart with Weekly range.
  • For gold bulls 1321 should be held to avoid another fall. 
  • Hourly chart is trending down below the cloud. Possible reversal of the trend will be possible only if price starts to trade above the cloud.
  • APPLE WEEKEND UPDATE
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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