March 26, 2014

  • Gold daily chart shows price pausing at 38.2% Fib level.
  • For gold bulls price must close back above 50 day SMA.
  • One hour chart shows price trading below the cloud. Price sustaining below the hourly cloud will continue to favor Bears.

  • Crude oil daily chart shows price testing 200 Day SMA.
  • Price unable to close back above 200 SMA may give bigger falls for crude oil.


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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