August 12, 2013

  • Crude oil hour chart pausing at golden ratio.
  • 4 Hour cloud too is acting as resistance.
  • Support in hour chart is seen at the rising support line and 100 Hour SMA.

  • Gold daily chart shows price testing resistance zone between 1338 - 1347.
  • Price nearing 100 Day SMA at 1354.
  • Price above daily cloud. Weakness on price falling back into the cloud. Sustaining above the cloud may lead to a breakout above the resistance levels.

  • ES is sustaining below 4 Hour cloud.
  • Daily chart shows price below 20 Day SMA.
  • Next crucial support zone is shown in 2nd chart. For bears a bigger fall will be possible on breaking this level.
  • TRIANGLE of Google

  • SBI Daily chart shows price consistently getting resisted near 5 Day High EMA. Last week's attempt to stay above this level has failed.
  • Daily chart shows an inside day pattern which may work for bulls or bears. Levels are bullish above 1729 and bearish below 1636.
  • Weekly chart shows price moving towards 1571 - 1590 zone which is a critical support level in weekly time frame. 


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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