December 30, 2013

  • Daily chart shows weakness at 200 Day SMA. Crude oil bulls need to close above this line to avoid a correction.
  • 4 Hour chart shows price approaching crucial support levels. Closing below 98.50 levels and the cloud of this time frame will add strength for crude oil bears.

  • First chart shows price nearing 50 Hour SMA. First signs of weakness if price starts to trade below this line. Second chart shows price giving bullish breakouts and trending above the Hourly cloud.
  • Bears are hoping for the Setup in daily chart to work for starting a correction.
  • FACEBOOK Bearish Weekly candle

  • Bank Nifty Daily chart is about to do a Golden cross.
  • Second chart shows the recent crosses which has given good price moves So the chance of a whipsaw happening is higher. 
  • Weekly chart looks overbought and testing golden ratio, 50 Week SMA. Price must stay above these levels for the bullish event to perform well.
  • EURUSD Hits Monthly 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