March 6, 2014

  • Crude oil breaks the 4 hour cloud.
  • Price trading below 20 SMA in daily time frame.
  • Crucial level to watch is the big round number at 100. This level acted as resistance recently so it may act as support. If 100 is not held bigger correction is possible.

  • Possible bullish setup in Rcom. But price need to close the day above the discussed levels in chart for confirming a breakout.

  • BAC Daily chart shows a Triangle breakout.
  • Closing above the recent swing high of 17.42 is likely to take the stock above 18.50 levels.


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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