December 10, 2013

  • Silver up move can extend only on price breaking above the resistance levels mentioned in first two charts.
  • 4 Hour chart shows the breakout above the falling resistance line which resulted in a fast up move.
  • Daily close above 38.2% Fib level may extend this up move.
  • SLV Weekend update
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  • Gold daily chart need  a close above 20 SMA and the channel line shown in second chart for a possible extension of the current up move towards 50 Day SMA.
  • 4 Hour chart shows possible resistance levels at 38.2% and 50% Fib level 





  • Ford daily chart shows a bearish descending triangle pattern with support zone at 16.35 - 16.42
  • Key resistance levels in daily chart are the 50 and 100 Day SMA.
  • Weekly chart shows major support levels at 16.09 and the rising support line.


  • ES one hour time frame shows price near 50 Hour SMA. 30 Minutes chart shows cloud as support and the black resistance line which bulls need to break above for a possible up move to follow. Closing below the cloud may result in a fall.
  • 4 Hour time frame shows price struggling to cross the recent resistance levels.
  • BANK Of America support levels
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  • Rising 20 day sma is the Immediate support level for BAC.
  • Price for now is taking support at the broken weekly resistance level of 15.31 level.
  • If the stock starts to fall 38.2% fib level and 15.03 levels may act as support.




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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