December 31, 2013


  • Apple daily chart shows price taking support near rising trend line.
  • 4 Hour chart too shows support at the Ichimoku cloud.
  • Last chart shows price testing 20 Day SMA. Apple bulls need price to close back above 20 SMA for a bigger up move to happen.
  • Gold 4 hour chart shows multiple resistance levels. 
  • Price need to close above these levels for a bigger up move to happen.
  • CRUDE Oil Chart update
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  • Crude oil after showing weakness at 200 Day SMA is now testing 20 Day SMA and other crucial support levels in 4 hour charts. Breaking below 20 Day SMA on closing basis may give a bigger fall for crude oil.






  • First chart shows bearish engulfing pattern in daily chart. First pattern shown in the chart did not do well. Current Bearish engulfing pattern may do well only if price starts to trade below the GAP in daily chart.
  • There is also a possibility of a broadening pattern which will look good once price starts to trade below 86.68 on closing basis.
  • Daily chart shows negative divergence price yet to confirm any weakness though.
  • FACEBOOK Chart update


  • Facebook weekly candle shows perfect price action for bears followed by the bearish weekly candle of last week. Now Bears need to takeout 52.91 level which was the low of a previous weekly candle.
  • Daily chart too is approaching crucial support levels like 20 Day sma and 38.2% Fib level which has to be broken on closing basis for a bigger fall to happen.




  • Bharti Airtel is testing a channel resistance line and 100 Day SMA. Bulls need a daily close above these levels for the day to avoid a bigger correction.
  • Bearish candle for the day may start a correction towards 200 Day SMA.

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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