September 24, 2013

  • BIDU Pausing at weekly resistance zone 153.94 - 155.84.
  • Hour chart shows immediate support at 23.6% Fib level and Hourly cloud. Price yet to break below crucial support levels in hour chart which may keep BIDU Bulls interested for a bigger breakout.
  • ES Hour Will remain weak On sustaining below the Hourly cloud and 50,200 Hour SMA.

  • Nifty daily chart shows possible support levels at 5690 and 5798.
  • Daily MACD is moving towards another bearish signal which will be effective on price closing below 50 Day SMA.
  • 38.2% Fib level for the up move at 5751.
  • USDINR Chart analysis

  • ES has broken below 200 Hour SMA.
  • But 4 hour is testing possible support levels at 38.2% Fib level and Lower Bollinger band. Price action though continues to favor bears as it dos not shown any strength or signs of reversal.


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"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