August 29, 2013

  • Gold one hour chart shows support at 38.2% Fib level
  • Immediate resistance at 50 Hour SMA.
  • 30 Minutes chart shows a bullish falling wedge pattern.
  • 50 Hour SMA is the immediate resistance level shown in One hour time frame. Closing above this level may give a decent bounce for ES Bulls.
  • Crucial supports are shown in daily charts. 50% Fib level and Cloud Base is getting tested. Daily close below these levels may extend gains for ES Bears. Taking support at these levels should result in a bounce.
  • GOLD Support and Resistance 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