August 18, 2013

  • First chart of weekly time frame shows a rising support line. Further weakness only on price breaking below this line.
  • 2nd chart shows horizontal support zone between 30.84 - 31.02. Below this zone price is likely to test the weekly cloud. Strength in weekly chart only on price closing back above 20 Week SMA.
  • SILVER Weekend update
  • Daily chart shows price testing 100 Day SMA.
  • Weekly chart too is stuck near 20 Week SMA. Price has to close and sustain above this level for higher targets.
  • Immediate resistance at 38.2% Fib level shown in last chart.
  • SILVER Weekend update

  • Blackberry getting resisted at Weekly cloud and 50 Week SMA. 
  • Daily chart shows Fibonacci support levels. This fall may not last much price is likely to move up again from Golden ratio or 78.6% Fib level towards the Unfilled GAP shown in last chart.
  • For a bigger up move price must sustain above 50 Week SMA.
  • S&P 500 Weekend update


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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