February 24, 2014

  • Silver One hour chart shows a range breakout.
  • Weekly chart shows price nearing crucial resistance levels. Silver bears need price to show weakness at the falling resistance line and Weekly cloud.
  • GOLD Chart analysis

  • ES one hour and 4 Hour chart shows breakout from bullish patterns. Closing at the Highs will help bulls to extend the up move further.
  • GOLD Chart analysis
  • Gold daily chart shows price testing the golden ratio. Price trading near a possible reversal zone in daily chart, But smaller time frames are not showing any weakness yet. Unless price shows weakness in one hour and 4 hour time frames this up move is likely to continue towards 1350 levels.
  • APPLE Bearish Doji Update

  • Trend for reliance communication remains negative as the Death cross continues to perform well. Stock may give an oversold bounce but will remain bearish as long as price stays below 50 Day SMA. First weekly chart shown here also shows a bearish breakdown below a crucial support line.
  • Bulls may argue that price is testing the weekly cloud and nearing crucial retrace levels as shown in chart 2.

  • ES 4 hour chart shows rising support line and resistance zone.
  • One hour chart shows price testing 100 Hour SMA. Likely correction if price stays below 100 Hour SMA.
  • Weakness may take price towards the range bottom shown in last chart.


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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