March 12, 2014

  • Crude oil broken below crucial moving averages in daily time frame.
  • Next support levels are the Golden ratio and Daily cloud. Breaking below these levels may give an extended fall.

  • Gold hour chart shows range breakout.
  • Daily chart shows price moving above crucial resistance zone. Gold bulls need a daily close above this zone to take price towards 78.6% Fib level as shown in last chart.

  • ES 4 hour chart shows price below the rising support line.
  • Price is testing the 4 Hour cloud and 100 Period SMA. Bears need to close below these levels for  a bigger fall to happen.

  • Weekly and Daily chart of TATA Steel at crucial support levels.  Weekly chart shows price at 38.2% Fib level. So bears of Tata Steel need daily close below 340 and 336 levels to further extend this fall. For bulls they should protect this area for a bounce to happen.


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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