September 13, 2013

  • The pattern shown in four hour chart suggest that price may come back to 1272 levels from were the pattern was started. It also looks like a strong reversal formation.
  • Daily chart shows price below crucial moving averages. Sustaining below 50 SMA price should test the immediate support level which is at 1272.
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  • Nifty daily chart shows a bearish engulfing pattern near the resistance line, But price is still above 5 Day High EMA and 100 Day SMA. Weakness only on price falling or closing below these two levels.
  • Last chart shows the cloud breakout getting tested. Price has to sustain above the cloud for a bigger up move to happen.
  • GOLD Bearish price action




  • SPX is moving up from weekly support line. Price is approaching the historic high's which may act as resistance levels. The Buy signal or bullish cross in MACD continues to do well, Weakness only on price closing back below 50 Day SMA.
  • GOLD Bearish price action



  • Bidu 4 hour chart shows a range breakout. Price is now retesting the breakout area. Buying close to 142.89 levels may give a long trade with good risk reward ratio. Weakness on price trading below 20 Hour SMA and 23.6% Fib level. Bearish on price falling back into the range shown in first chart.
  • GOLD Bearish price action
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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