September 25, 2013

  • Multiple support levels near 10000. Bulls must hope this zone holds for a trading bounce to happen. Breaking this level on closing basis will further weaken the Bulls of BN.
  • CRUDE Oil trend update
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  • ES 4 Hour chart shows a possible head and shoulders pattern which needs price to sustain below the shaded area and 100 period SMA for doing well.
  • One hour chart shows price getting resisted at 38.2% Fib level and Crucial moving averages like 50 and 200 period SMA.
  • 1686 level or the Neck line of the pattern may also act as support to invalidate the bearish pattern.
  • CRUDE Oil trend update
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  • Crude oil 30 Minutes chart shows price trending down below the cloud.
  • Daily chart shows price testing crucial support zone. Down move shown in first chart will extend only on closing the day below 102 levels.



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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