November 8, 2013


  • Facebook 4 Hour chart shows support and resistance lines.
  • Daily chart shows price testing the cloud
  • Price testing 23.6% fib level.
  • Silver daily chart shows price near rising support line and Lower Bollinger Band.
  • Crucial resistance at 200 Day SMA.
  • Price must break out of this contraction for a bigger move to happen. For now price may find support at rising support line or lower bollinger band.




  • ES Daily chart shows price trying to stay above 23.6% Fib level. This level has to be broken on closing basis for bigger falls to happen.
  • 4 Hour chart shows price sustaining below the cloud which will favor es bears on up moves.
  • One hour chart shows  a bearish cross with 50 and 200 Hour SMA, Up moves are likely to face resistance near these moving averages.
  • Dow Jones analysis after closing bell
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  • Bank Nifty Daily chart shows price unable to sustain above 200 Day SMA
  • Price near Rising up trend line from 8605 levels and 20 Day SMA. Breaking these levels on closing basis should take price towards its 100 Day SMA.
  • Dow Jones Channel resistance
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  • Daily chart of Dow Jones shows price falling from the channel resistance line. MACD lines are getting ready for a bearish cross. Price nears 20 Day SMA, Closing below this level will confirm further bearishness.

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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