June 15, 2013

  • Thursday's up move got resisted at 20 Day SMA.
  • Price managed to close the week above 50 Day SMA But Friday's candle shows weakness which has also affected the weekly candle.
  • Last two weekly candles tested the up trend line, For now bulls are able to hold above it but price may break this trend line if gets tested again.


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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