February 28, 2014

  • Tesla 30 Minutes chart shows price in a range. Price is testing the range support zone at 244.
  • Daily close below 244 will strengthen Tesla bears for targeting the GAP.
  • 5 Minutes  chart trading below the falling resistance line. Possible intraday bounce if price starts to trade above this line.
  • APPLE Chart analysis

  • Crude oil four hour chart shows price near the rising trend line and testing the 4 hour cloud.
  • Price also seen in a range. These rectangles in four hour time frame has given bullish breakouts so far.

  • Apple takes support at Golden ratio.
  • Price moves above 20 Day SMA. Immediate resistance levels at 38.2% Fib level and 100 Day SMA.
  • DOW Jones Analysis after closing bell

  • Bank Nifty near 50 day SMA.
  • Price also near previous support level (10780) and 38.2% Fib level.
  • Weekly candle is looking bullish, Bigger up move possible if price starts to trade above 20 Week SMA.

  • Dow Jones is trading near a crucial resistance line and 78.6% Fib level. For bears its crucial that price shows weakness here. Bears further need a close below 50 day SMA to confirm bearishness.
  • Price if continues to stay above 50 Day SMA will clear the above mentioned resistance zone and may take price towards newer High's.


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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