February 12, 2014

  • ES 30 Minutes chart shows price near the cloud. Cloud of this time frame has acted as good support recently.
  • 4 Hour time frame with Fib levels shows potential resistance level in 78.6% Fib level. This level must be crossed soon to avoid a correction.
  • Daily chart shows price above the crucial 50 Day SMA and a previous support resistance zone. Sustaining above this zone will favor bulls of ES.
  • SILVER Near Range Top

  • Axis bank is likely to see high volatility from Friday because of the stake sale by the government. Stock is showing a Bullish Falling wedge reversal pattern. 
  • Price continues to move with reducing volume. Price and volume breakout may give an extended move for the stock. 

  • Nifty Chart shows price continuing to trade in a range with Major low at 50 Week SMA and 38.2% Fib level.
  • Positive if stays above 6130 levels. Weekly close above 23.6% Fib level shown in last chart may also help bulls to move up further.
  • SILVER Chart analysis

  • Silver daily chart shows price near the top of the range.
  • Fib levels too shows price testing the resistance zone just above the 23.6% Fib level.
  • Only positive here for silver bulls is that price is staying above the falling resistance line form 25 levels.


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"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