September 12, 2013

  • ES Fib levels shows weakness at 78.6% Fib level.
  • Daily chart is approaching crucial resistance zone.
  • Weakness in hour chart only on closing below the Hourly cloud.
  • SILVER Chart update
  • GOLD Bearish price action

  • Gold violates crucial rising support line in daily chart. 50 and 100 SMA too has been violated. Gold bears need a daily close below these moving averages to fall further. Closing below 38.2% Fib level will further weaken the bulls of Gold.
  • SILVER Chart update
  • 4 Hour chart of silver has violated crucial support levels. Price is trending down below the Ichimoku cloud.
  • Hope for silver bulls is in the 50 Day SMA. A daily close below 50 SMA will further strengthen silver bears.
  • APPLE Support levels

  • Daily chart violating falling resistance line.
  • Price also trying to stay above 50 Day SMA and 38.2% Fib level.
  • Last chart shows price nearing the daily Ichimoku cloud which may act as a resistance zone for bulls of BN.


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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