December 4, 2013

 
 
  • GOLD 4 hour chart shows price violating 50 period SMA. Price need to sustain above the cloud and the resistance zone shown in last chart for a bigger up move to happen.
  • ES CHART UPDATE
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  • ES 4 Hour chart shows price testing 100 period SMA. Price must get back above this line to avoid further fall.
  • Immediate support at 38.2% Fib level. If this level does not hold price may slip towards the previous support resistance zone and 200 period SMA.
  • FORD Chart analysis
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  • Ford daily chart shows price getting resisted at 17.20 levels and breaking the support line of the contraction pattern.
  • Daily line chart shows crucial support zone between 16.50 - 16.60. If this level is taken out on closing basis then Ford may fall towards the next support levels shown in the last chart. 
  • For ford bulls must sustain above 16.50 levels on closing basis to avoid a bigger fall.
  • FORD Chart analysis
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  • Bank nifty daily and weekly chart nearing crucial resistance levels.

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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