September 17, 2013

  • Silver Daily chart testing crucial support zone. Further down move only on breaking below these levels on closing basis.
  • FALLING Wedge of INTEL

  • Intel Falling wedge pattern is doing well so far for bull. Price is getting resisted at 100 Day SMA. Intel bulls need a close above 100 SMA to extend this move towards 24.43 levels. Price is testing the Daily Ichimoku cloud. Bulls need to close above the cloud for a bigger up move to happen.
  • FACEBOOK Trend update
  • Facebook one hour has broken the up trend line and horizontal support at 43.07
  • Hour chart also shows price falling towards 38.2% fib level and previous resistance zone which may act as support. Daily chart shows next support at 20 Day SMA. These support levels must hold to avoid a bigger fall in Facebook.
  • APPLE Weekly bearish engulfing
  • ES one hour testing previous resistance level and 50 Hour SMA. Staying above this zone may resume the up move for newer high's. Closing below this level may lead to 1670 levels and lower.


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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