February 25, 2014

  • Apple daily chart shows price trying to take support at 20 day SMA and 50% Fib level. Four hour chart too shows a PIN BAR like reversal candle which may help apple bulls with a bounce.
  • 100 Day SMA at 530 is a resistance level. Bullish on trading above 530 levels. Bearish Below 522

  • Falling wedge of axis bank which was discussed in a recent post continues to perform well for bulls. price has closed above the crucial 50 and 200 Day SMA.
  • Price for now is near the Golden ratio. No weakness here means price may extend towards the target level for the pattern which is at 1326 level.
  • S&P 500 Futures Testing the breakout zone

  • Breakouts from the bullish patterns of one hour and 4 Hour time frames are getting tested. 30 Minutes chart shows price nearing crucial retrace levels. Price falling further and closing back into these patterns will be negative for ES Bulls.

  • Blackberry daily chart shows a bullish breakout from a consolidation pattern. Price is making an attempt to stay above its 200 Day SMA. Recent attempt to stay above this level has failed. This time too price failed to close near the High's.
  • Bulls need to close above 10.1 and the Falling resistance line in weekly chart for a bigger up move to happen.
  • GOLD Chart analysis


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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