January 20, 2014

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  • Silver 4 hour chart shows support and resistance lines of a contraction pattern.
  • Daily chart testing crucial falling resistance line from 24 levels.
  • last chart shows price at 38.2% Fib level which has acted as resistance so far.
  • GOLD AT CRUCIAL RESISTANCE ZONE


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  • Gold nears the falling resistance line. 2nd chart shows price near 100 Day SMA.
  • Fib levels shows price above 38.2% Fib level. This area has been acting as supply zone for gold for sometime now. Price breaking and closing above 50% Fib level may give an extended up move. Price closing below 38.2% Fib level will be bearish.
  • SINA CORP Chart Analysis
  • BLACKBERRY WEEKEND UPDATE
  • BANK Of AMERICA WEEKEND UPDATE
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  • NIFTY Daily chart shows price in a trading range. Immediate levels are 6358 and 6129. 
  • Daily cloud is acting as support.
  • Price also testing 23.6% fib level. closing below this level should give a fall towards the range support or 38.2% fib level. 
  • Bigger fall only if price closes below the cloud.



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  • Citigroup Weekly chart shows a false breakout from the range. Price closed back into the range may favor bears.
  • Bears need to breakdown from the channel shown in the second chart. Bears also has to close below 50 Day SMA to gain strength.
  • BLACKBERRY WEEKEND UPDATE
  • BANK Of AMERICA 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