January 6, 2014

  • 4 Hour chart shows price breaking another crucial fib level in 78.6%. 
  • Daily chart shows price fast approaching crucial support zone between 91 - 92. 
  • Weekly chart also shows price near the all important 200 Week SMA.

  • One hour chart shows price breaking out of an ascending triangle pattern.
  • 4 Hour chart shows resistance line at 200 Period SMA.
  • Daily chart shows bulls trying to break above the cloud. Previous attempts to break above the cloud has failed. For bulls of Blackberry price has to sustain above the cloud to sustain this up move.

  • CISCO Overbought and near resistance line.
  • Price also testing the Daily cloud.
  • For now price is trying to stay above 50 Day SMA. More weakness only if price starts to trade below 50 Day SMA.
  • YAHOO Negative Divergence

  • Apple testing 50 Day SMA.
  • Price also trading near the golden ratio and the Daily Ichimoku cloud which may act as support.
  • FACEBOOK Weekend update


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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