May 22, 2013

  • Crude oil four hour chart shows rising support lines.
  • Four hour cloud and 23.6% Fib level also has to break for a bigger fall to follow.

  • Silver hour testing 200 Hour SMA again.
  • price also near the cloud in 4 Hour time frame and Crucial fib levels in daily chart. 
  • Daily chart is nearing the up trend line.
  • Crucial support levels are the rising 20 day SMA, 23.6% Fib level and price support zone at 12870
  • Like in nifty this fall is happening after Bearish engulfing and Negative divergence. A bigger fall will happen if the above mentioned supports are not held.
  • ES Near crucial support levels.
  • Weakness on trading below 100 Hour SMA and 1558 level as shown in the charts.
  • Hourly cloud too is giving good support till now. This has to break on closing basis for a fall to happen.
  • Silver Hour pullback got resisted at 200 Hour SMA. This line will continue to act as resistance level.
  • Hour cloud is crucial support level. Trading below this level on closing basis may lead to another correction.towards the lows.


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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