October 11, 2013

  • Gold 4 Hour chart shows price breaking support levels.
  • Daily chart shows price breaking the neck line of a head and shoulders pattern. Daily chart with fib levels shows price violating golden ratio. Gold bears need a close below these levels for a bigger fall to happen.
  • DOW Jones Analysis after closing bell

  • Daily and weekly chart are moving into potential resistance levels. Next resistance level at 6134 - 6142 price zone. Weekly Upper bollinger band near 6164 level for now.
  • DOW Jones EOD Update

  • Dow Jones bounced from 200 Day SMA is fast approaching crucial moving averages like 20, 50 and 100 Day SMA's. Resistance zone in daily chart is between 15190 - 15250. Weekly chart shows price remaining inside the broad range of 14760 - 15658.
  • TESLA at support 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