October 22, 2013

 
 
  • Price violating 200 Day SMA and 50% retrace level. Closing below these levels may target the golden ratio. Previous resistance zone of 96.80 - 97.30 may act as support for a bounce.
  • FACEBOOK BEARISH ENGULFING PATTERN
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  • Gold must breakout above the daily cloud to sustain this up move.
  • FACEBOOK BEARISH ENGULFING PATTERN
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  • Facebook daily chart shows a bearish engulfing pattern. Weakness on price trading below 53.51 levels.
  • Daily MACD and price shows negative divergence But price yet to confirm any weakness yet.
  • TESLA TREND UPDATE
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  • Axis bank daily chart shows a potential head and shoulders pattern. Price yet to clear the resistance line or the neck line properly, Need price and volume advance to confirm breakout.
  • Price need to sustain or close above 100 Week SMA to target the golden ratio level shown in last chart.




  • Tesla 50 Day SMA and up trend lines are getting tested. Breaking them on daily closing basis may lead to an extended fall.
  • 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