July 28, 2013

 
  • Apple weekly chart shows price closing above 20 Week SMA after a long GAP.
  • Second chart also the weekly time frame shows price approaching a possible resistance line. Price should close above this line to extend the current up move.
  • Weakness can be seen in daily chart if price starts to trade below 100 and 50 Week SMA.
  • S&P 500 WEEKEND UPDATE
  • TESLA MOTORS WEEKEND UPDATE
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  • Crude oil has closed at an important area as can be seen in chart one. The resistance line of the triangle may try to support this fall. Price if falls back into the weekly triangle may give a bigger correction.
  • Fib levels shows support at 23.6% Fib level.
  • Channel shown in hour chart is at a crucial level. If the higher time frames give support we may see a channel breakout on the up side. on the contrary if the support level goes we may see faster falls from the current levels.
  • S&P 500 WEEKEND UPDATE
  • GOLD WEEKEND UPDATE
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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