November 2, 2013

  • Intel weekly chart shows bearish shooting start candle. Shooting start is seen at the weekly upper bollinger band.
  • Daily chart shows overbought rsi turning down with negative divergence. Bearish on price trading below 24.22 and 24.08 levels.
  • FACEBOOK Weekend update
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  • Facebook daily chart shows support at lower Bollinger Band and 50 Day SMA. Daily candle failed to close above 20 SMA and may resume correction again towards 50 SMA
  • Weekly Chart shows price unable to close the week below 23.6% Fib level. Weekly trend will turn weak only on closing below 23.6% Fib level at 47.23.


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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