August 24, 2013

  • Hewlett Packard Daily chart shows price below the cloud.
  • Weekly chart has broken below the up trend line and Weekly MACD lines has given a bearish cross.
  • Last chart shows price testing 100 Week SMA. Further correction only on price breaking below 100 Week SMA.

  • Nifty weekly chart has given a bullish hammer pattern. Now a  perfect pattern as the tail looks a bit long. Tail area shows buying support at lower levels, If price starts to fall this zone may act as support.
  • 5494 is the Day High EMA which has to be crossed on closing basis. Above day high ema price may target 38.2% Fib level.

  • ES 4 Hour chart nearing crucial resistance levels.
  • Bears will become weak if price starts to trade above these levels.
  • SILVER Chart 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