September 4, 2013

  • Silver four hour testing a possible support line and 100 Period SMA.
  • Price testing lower Bollinger Band in four hour chart.
  • Silver bears need a close below these levels to extend gains.

  • ES 4 Hour chart shows price contraction between support and resistance line. Breakout from this contraction may give a bigger move.
  • 4 Hour cloud acting as resistance.
  • Daily chart shows a range between 38.2% - 50% Fib level. Closing outside this range may give a bigger move. 
  • SPX Daily and Weekly charts shows price at crucial support zone.
  • A Daily close below the cloud may trigger a bigger fall
  • MICROSOFT Chart analysis

  • Microsoft daily chart shows price falling to a support zone.
  • Weekly chart shows price at the rising support line.
  • Fib levels in weekly chart shows price trying to find support at the 50% retrace level which has acted as good support so far. Holding these levels MSFT is likely to move up again. Bears need a weekly close below these support levels for a bigger breakdown to happen.
  • Crude oil four hour chart shows price testing a crucial resistance zone. 
  • One hour chart shows price at 50% Retrace level.
  • Weakness here may take price back towards 105 levels. Closing above 109 may result in a bigger up move.


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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