December 12, 2013

  • Silver daily chart shows previous support level and 38.2% Fib level acting as resistance.
  • Price closing below the 4 Hour cloud may extend the fall.
  • Hour chart shows price testing the golden ratio. Price sustaining below this level will strengthen silver bears.
  • ES Sustaining below 200 period SMA will continue to favor bears.
  • Bulls trying to hold above the previous resistance zone which has acted as support so far. This is also the 50% Fib level as shown in chart 3. This area must be broken by bears on closing basis for extending gains.
  • DOW Jones analysis after closing bell
  • Dow Jones Daily chart shows bearish reversal candles working well for bears. Price is not testing crucial support levels
  • Bears need price to close back into the channel shown in second chart for a bigger downfall to happen.
  • Last chart shows price testing 23.6% Fib level and lower bollinger band. Price need to close below these levels for bears to extend gains.


All the contents of niftychartsandpatterns are for educational purposes only and are not Investment Advice or recommendations offered to any person(s) with respect to the purchase or sale of the stocks / futures. Niftychartsandpatterns shall not be held responsible for the actions of individuals, parties, or corporations taken in response to the ideas, thoughts, concepts or information presented in this blog. Hence all the visitors are requested to apply their prudence and consult their financial or investment adviser before acting on any of the Ideas in this blog.


Blog Archive

Powered by Blogger.

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