September 20, 2013


  • ES One hour and 4 hour charts with crucial support levels.
  • Bulls need price to hold above them to keep the bullish structure intact.



 
  • APPLE 4 Hour chart shows 50 period SMA and GAP as resistance
  • 4 hour cloud and 23.6% may also act as resistance.




  • Crude oil has broken below the triangle pattern discussed yesterday.
  • More weakness on price falling below 104.95 levels



  • Price and RSI yet to show negative divergence for the current up move. Price is near previous resistance levels like 6133 and 6229. If 6229 is taken out then price may target the rising resistance line of weekly chart which is at 6370 approx for this month.
  • Bears need to see weakness at the current levels and Divergence as price nears 6229 levels.
  • GOLD 4 hour and daily chart has managed to move above crucial resistance levels. Keeping this as base price can extend this up move further. Positive for Gold bulls as long as price holds above 50 and 100 Day SMA.
  • EURUSD Chart analysis
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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