June 27, 2013


 
  • Long term trend of Gold getting tested as price falls into the Monthly cloud.
  • Price is also nearing Golden ratio in Monthly chart for the rise from 680 to 1920. Golden ratio is at 1153  levels.
  • Hour chart continues to trend down below the cloud. For a possible pullback price must trade above the hourly cloud.
  • EURUSD TREND UPDATE
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  • EURUSD Daily chart testing Ichimoku cloud and 100 Day SMA.
  • Strength in hourly chart on trading above Hourly cloud.



  • Crude oil daily chart shows price near resistance zone of 97 - 99.
  • Weekly chart shows price near golden ratio.



 
  • ES nearing multiple resistance levels.
  • Price must sustain above Golden ratio and 100 period SMA for this up move to continue.


  • SPX is moving back to broken levels like 50 day sma  which may act as resistance.
  • Strength only if price trades above 50 Day SMA and daily cloud.
  • APPLE SUPPORT LEVELS
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  • Bank of america nearing its 50 Day SMA.
  • Price also near the broken support level of the descending triangle pattern which may act as resistance.
  • 4 Hour cloud too may act as resistance. Price sustaining below the cloud will give selling opportunities. Strength or the resumption of up move only on price sustaining above the cloud.
  • APPLE SUPPORT LEVELS
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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