December 11, 2013

  • 4 Hour closing below 23.6% may extend this fall towards 200 period sma.
  • ES Hourly cloud testing 100 Hour SMA. Price also near a rising support line and Hourly cloud bottom.
  • Bears need to sustain below 100 Hour SMA to extend this fall.

  • Facebook daily chart shows price closing above 50 Day SMA. But price is trading the golden ratio. Facebook bulls need a close above this level to extend the up move towards 54.8 levels.
  • Weekly bullish candle continues to perform well. A Bullish close for the current week is likely to extend this up move towards 84.82 levels.
  • SLV Weekend update

  • DLF Daily chart is testing the breakout from a triangle pattern. Price closing back into the triangle pattern may result in bigger falls.
  • Weekly upper bollinger band is acting as strong resistance level.
  • Bullishness only on closing above 166.2 levels. Bearish below 156.8 level.
  • TATA MOTORS Weekly resistance line


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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