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.


All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.


Blog Archive

Powered by Blogger.

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