January 14, 2014

  • Gold daily chart shows price testing previous support level which is acting as resistance. 38.2% Fib level and Previous support is acting as confluence of resistance.
  • Daily chart shows price near falling resistance line and daily cloud.

  • Previous resistance and 38.2% fib level acting as support.
  • 200 Period SMA of four hour time frame is acting as support for now. Bears must break below these levels to extend gains.

  • First chart shows daily chart with immediate support levels around 16150 levels.
  • Second chart shows price closing below 20 Day SMA. If price stays below this line bears may get a trending down move.
  • Last chart the weekly time frame shows the previous channel resistance line as possible support level for a bigger fall.
  • ES Broadening pattern BREAKDOWN

  • One hour chart shows breakdown from the Broadening pattern.
  • 4 Hour chart shows price testing 38.2% fib level. Price also near previous resistance zone which may act as support.
  • CRUDE Oil Trend 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