October 28, 2013

 
 
  • Silver daily chart shows price testing 200 day SMA.
  • Price is also testing daily cloud. Silver bulls need to close above the cloud and 50% Retrace level for a bigger move to happen.
  • ES SUPPORT LEVELS
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  • EURUSD Daily chart shows price hitting a possible channel resistance. Weekly chart shows price testing the golden ratio. Monthly chart is shown with the falling resistance line, Price yet to test this line. EURUSD may give a small correction here But it may resume the up move to hit the monthly falling resistance line which will be followed by a bigger fall.
  • ES Chart update
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  • Price may test the breakout from ascending triangle. Previous resistance zone of the ascending triangle also coincides with 38.2% Fib level and 50 Hour SMA. Bears need to close below this level for a bigger down move to happen. Correction limited to this zone may result in a bigger up move.
  • DOW Jones Weekend update
  • CRUDE OIL Weekend update
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  • TCS Daily chart shows price violating the up trend line but managed to close back above it.
  • Price has given a bullish engulfing pattern close to 50 Day SMA. Bears of TCS need a close below 50 Day SMA, Bulls need to close above 2080 levels to confirm a bullish move.
  • Weekly chart looks bearish with the Topish weekly candle which need a weekly close below 1995 for a breakdown to follow.
  • DOW Jones Weekend update

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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