December 8, 2013

  • SLV Daily chart shows possibility of a bounce with positive divergence. But Weekly charts are yet to bottom out. 
  • If 17.75 is held there is a chance of a double bottom pattern. Break of this level on closing basis though will extend the current trend in weekly time frame.
  • SILVER Chart Update

  • First chart of Dow Jones shows the channel resistance line acting as support. For bear of Dow Jones price should fall back into this channel.
  • Although price moved up on Friday the Topish structure remains in weekly chart. Bulls must close above 16174 to negate the bearishness of the weekly candle.
  • Last chart shows the negative divergence of weekly chart which will be effective on sustaining below 16174 levels.
  • GROUPON Weekend update


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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