August 27, 2013

  • GOOGLE daily chart shows price below 100 Day SMA.
  • Daily chart also shows price nearing crucial support zone between 843 - 848
  • Price also near 50% retrace level. Close below 848 may take price towards 825 levels. For bulls need to protect 843 - 848 price zone.
  • APPLE Weekend update

  • ES Approaching crucial support zone.
  • ES Bears need to break below the daily cloud to extend gains.
  • Crude oil 4 Hour chart shows price breaking out of a consolidation pattern.
  • But Daily chart shows price near the Top of a bigger range.
  • Price has to stay above the daily range for a bigger up move to happen otherwise a pullback is likely to happen.  

  • Tesla Daily candle looks bearish
  • Daily chart also shows Divergence with Price and RSI
  • For the bearishness to give a fall price must sustain below 158.88 - 160.25 zone.
  • ES Chart analysis

  • SLV Near the GAP (23.7 - 25.17) in daily chart which may act as resistance.
  • Along with the GAP price has to cross 38.2% Fib level and Weekly upper bollinger band. Bulls must cross multiple resistance here to sustain the current up move.
  • ES Chart analysis
  • ES Daily chart reacting from previous support level which was broken and is acting as resistance now.
  • Price got resisted at 50 Day SMA.
  • More weakness only if price breaks below the 38.2% Fibonacci level.

  • ES One hour chart moving in a channel.
  • Four hour chart shows price nearing crucial fib levels.
  • Daily chart is near 20 Day SMA which may also act as resistance area.


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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