March 7, 2014

 
  • Crude oil daily chart shows price Bouncing from support confluence. Further weakness only if price closes below 200 Day SMA.


  • ES moving in a channel
  • 30 Minutes and one hour time frames shows cloud and 50 Hour Moving average as crucial support levels.



  • NIFTY Daily chart on closing basis shows price outside the range. But the actual range is yet to break. Bulls must stay above 6415 level for sustaining the momentum.
  • Weekly charts are yet to show any weakness. weekly indicator is yet to reach overbought levels. Candles are yet to show weakness.
  • RELIANCE COMMUNICATION FALLING WEDGE PATTERN
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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