September 8, 2013


  • Previous support zone continues to act as resistance in weekly chart.
  • Multiple resistance levels like 38.2% Fib level and 100 Week SMA is making it tougher for bulls to move higher.
  •  Further weakness if price falls below 23.6% Fib level shown in daily chart.



  • Gold 4 hour chart shows a Bull Flag pattern.
  • Price need to trade above the 4 Hour cloud for the above pattern to perform well.
  • Weakness on trading below 1350 and the 200 period SMA.
  • SLV WEEKEND 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