August 3, 2013

  • APPLE Resistance levels on closing basis
  • First chart shows price moving above crucial resistance lines.
  • Falling 200 Day SMA may act as resistance. Immediate resistance levels for next week is around 463 levels. Daily close above 463 may lead price towards the 200 Day SMA.

  • SPX Closed above the horizontal resistance levels.
  • Price nears parallel resistance line.
  • Price is developing negative divergence. Price may violate the channel resistance line before the correction could start.

  • Silver violating the channel of four hour chart. 
  • Price getting resisted at 50 Day SMA. Price has to close above 50 Day SMA For a bigger up move to happen.
  • Trend in daily chart will weaken only if price starts to trade above the cloud.


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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