October 31, 2013

  • Crude oil Daily chart shows price pausing at golden ratio. Weekly chart shows 100 Week sma at the current lows. Breaking these levels on closing basis should extend the fall of crude oil towards the up trend line shown in last chart.
  • SILVER False breakout

  • EURUSD Daily chart shows price falling from channel resistance line.
  • Golden ratio in weekly chart too is acting as stiff resistance level.
  • Support in weekly chart is seen at the 200 Week SMA and 50% Fib level.
  • SILVER False breakout

  • ES Hourly cloud is acting as resistance level.
  • bears need to break below the shaded support resistance zone for a bigger down move to happen.
  • SILVER False breakout

  • Price re entering the range after a breakout mostly results in a fall that's shown in one hour chart. Daily chart too failed to stay above 200 SMA on closing basis and has given a bearish candle at this crucial resistance line(200 sma). Price likely to hit 23.6% Fib level as shown in last chart.
  • FACEBOOK Support levels

  • The up trend line in daily chart and the Golden ratio in one hour chart is trying to act as support level for Facebook.
  • If the above  mentioned levels fails to hold then price may fall towards 50 Day SMA or Lower Bollinger Band as shown in chart 3.
  • SPY Analysis after closing bell

  • ES one hour chart shows previous resistance zone acting as support.
  • Price sustaining below 100 Hour SMA and Hourly cloud will favor bears of ES. Bulls need to get back above 100 Hour SMA for a possible bounce to happen.
  • SPY Analysis after closing bell

  • Bank Nifty near 200 Day SMA and Golden ratio.
  • Daily RSI is at overbought zone and may give a correction towards rising support line.
  • Bulls need to close the week above 50 Week SMA and Golden ratio to extend the weekly momentum.

  • SPY daily chart shows bearish engulfing pattern and Negative divergence, these two patterns needs confirmation for staying short. In the immediate short term price should break and sustain below 50 Hour SMA for the above bearish patterns to work well.
  • Taking support at 50 Hour sma will negate the bearish possibilities.


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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