November 7, 2013

  • ES one hour chart trying to stay below 200 Hour SMA for the third time. 4 Hour chart shows price near crucial support levels. So bears need to close below the support levels shown in chart two and three for a bigger fall to happen.

  • Ford violates 100 Day SMA and Daily Ichimoku cloud.
  • Ford bears need a daily close below this level for a bigger fall to happen.

  • EURUSD Breaking crucial support levels. Breaking these levels on closing basis should take price towards next support levels which is the 200 Day SMA and Golden ratio. Next crucial price support zone is at 31.05.

  • Dow Jones Near resistance line, overbought and shows negative divergence in weekly chart, But price yet to show weakness. 
  • Price may move up some more to hit the resistance line, For bears should see reversal candles and Bearish weekly closes there for confirming weakness in price.


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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