September 6, 2013

  • Crude oil 4 hour chart shows price trading above the crucial resistance zone near 108. Next resistance level is at 112.21 levels.
  • Fibonacci levels shows price near 78.6% Fib level. If this level fails to stop crude oil bulls then 112 levels are possible.
  • Weekly candle is trying to make a bullish close above 110.54.

  • ES 4 Hour chart shows price near multiple resistance levels.

  • Bank Nifty closed above 20 Day SMA and 5 Day High EMA after a long while.
  • Daily chart is testing 38.2% Fib level. Sustaining above 38.2% Fib level price is likely to target the 5 Week High EMA and the Upper Bollinger band.
  • S&P 500 EOD Update

  • SPX Daily chart shows resistance at 20 Day SMA.
  • 38.2% Fib level too is acting as resistance.
  • Above levels may not mean much if the weekly rising support line is not broken soon. Holding above the support line price is likely to move up.


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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