August 23, 2013

  • Crude oil 4 hour chart shows a triangle shaped consolidation pattern. Price nearing resistance line.
  • Daily chart shows price getting support near 50 Day SMA. Bears unable to sustain price below 50 Day SMA. Crucial resistance zone between 108 and 110.
  • SILVER Resistance levels
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  • Silver hour chart is violating resistance levels
  • Next resistance level is at 23.57.
  • price has to stay above 23.57 for targeting 38.2% Fib level shown in weekly chart.


  • Microsoft Taking support at weekly up trend line
  • 2nd chart shows weekly resistance levels.
  • If price sustains above 33.41 it is likely to target the resistance line shown in last chart




  • HPQ managed to close a gap in daily chart and left another Gap in doing so.
  • Price has fallen below 20 week sma. Closing the week below this level may extend the fall towards lower bb in the coming weeks.
  • Daily chart shows price below 50 and 100 Day SMA. More weakness on price falling below 21.81 levels. 
  • EURUSD Channel and Resistance ZONE
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  • EURUSD 4 Hour chart shows price moving up in a channel.
  • Daily chart shows price near crucial resistance zone of 1.34 - 1.3450.
  • Weekly chart too shows price near 200 Week SMA. Recent attempts to cross this level has resulted in big corrections.
  • SPX Analysis after closing bell
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  • Weekly chart shows price trying to stay above 78.6% Fib level
  • Daily chart shows positive divergence with MACD Histogram. But Price is yet to confirm a reversal.
  • Last chart shows the struggle of bulls with 5 Day High EMA. Price must close above this level for a bigger bounce to happen. Another dip towards 9000 levels may give a buying opportunity risk reward ratio looks good here.




  • Daily chart trying to stay above 100 Day SMA.
  • Week is trying to turn up from 20 Week SMA.
  • Weekly up trend line trying to support the fall. Weekly closing tomorrow will be crucial. Closing above the weekly support levels may extend this bounce.



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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