August 25, 2013

  • GLD Closed above 200 Day SMA.
  • Week closed above 20 Week SMA.
  • Immediate resistance at 38.2% Fib level(137.3). If price breaks above 38.2% Fib level up move may extend to Weekly upper bollinger band.
  • SILVER Weekend update
  • Three resistance levels for Silver. First and the Immediate one is the 200 Day sma at 25.05.
  • Weekly chart shows price moving towards Upper bollinger band which may act as resistance.
  • If price is able to trade above the Upper BB then it may target the Support zone of the Descending triangle 26.02 - 26.36.
  • FALLING Wedge of INTEL
  • S&P 500 Weekend update
  • Weekly chart of SPX has given a hammer candlestick at Weekly Middle Bollinger band.
  • The down move was arrested near 100 Day SMA and price managed to close above 50 Day SMA.
  • Daily stochastic is at oversold levels, up move from here should reach 1680, Price sustaining above 20 Day SMA may give a bigger up move.
  • HEWLETT Packard weekend update
  • FALLING Wedge of INTEL

  • Intel continues to trade inside the Bullish Falling wedge pattern of daily chart.
  • Price is closer to the Weekly rising support line.
  • One more decline if happens will hit the Trend line and Weekly Lower Bollinger band which may lead to a reversal of the current move.
  • HEWLETT Packard 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