September 27, 2013

  • Bank of America Daily chart testing 100 Day SMA. Last two dips below this level has resulted in up moves.
  • 2nd chart shows price violating support zone. Price may Dip towards the rising support line in weekly chart before a bigger bounce can happen.
  • GOLD Daily and Four hour charts shows price near crucial resistance levels.
  • Daily chart also shows price contraction which could give a big trading move on breakout.

  • QQQ Bulls trying to keep price outside the Rising wedge pattern. Price falling back into the pattern may result in a false breakout trade which can give bigger moves in favor of bears.
  • Immediate support levels are shown in chart 2 and 3.

  • Nifty Trading in a range. Strength above 5960 - 5990 zone and Weakness below 5750-5790 area. 


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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