January 11, 2014

  • Weekly chart shows a bearish engulfing pattern. 
  • Daily chart shows MACD bearish signal which need price to trade below the support levels and 20 Day moving average.
  • Bearish engulfing in weekly chart needs confirmation. Daily chart has to trade below 20 SMA for the weekly chart to confirm bearishness. 


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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