October 30, 2013

  • Crucial support levels of ES in one hour time frame.




  • Silver one hour chart shows price trying to breakout of a range.
  • Daily chart shows price above 200 Day SMA. Silver bulls need a daily close above 200 SMA to confirm bullishness.
  • DOW JONES TRIPLE TOP AND DOUBLE BOTTOM
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  • Cisco daily chart shows price near the resistance line and 200 Day SMA. Closing above these levels may start an up move for cisco.
  • Weekly chart shows price trying to take support at the rising trend line.
  • DOW JONES TRIPLE TOP AND DOUBLE BOTTOM
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  • APPLE Daily chart shows a Bearish engulfing pattern.
  • Weekly chart is testing 100 Week SMA A close below this line may confirm the bearish engulfing pattern shown in daily chart.
  • Monthly chart too is getting resisted at 20 Month SMA. Unable to close the month above this line may result in a correction.
  • DOW JONES TRIPLE TOP AND DOUBLE BOTTOM
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  • Dow Jones has entered the crucial resistance area. 
  • Bearish View shows a possible Triple top pattern with indicator entering overbought zone, Problem here for bears is that the indicator is yet to exhaust So it should be a sudden reversal here, If price starts to hang around here it should lead to more upsides. 
  • Bullish view shows a 1000 Points Double Bottom pattern which is yet to confirm. Closing above this resistance zone may confirm this pattern.
  • TESLA Weekly Chart analysis
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"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