May 13, 2014

  • EURUSD Testing Multiple support levels like 200 SMA and Golden ratio. Possible rising support line too is trying to act as support.
  • Price has broken below the 20 Week SMA whcih was discussed earlier. If price gets support at the above mentioned levels then the weekly candle may get back above 20 Week SMA.
  • ES 4 Hour chart shows price trying to sustain above the resistance zone.
  • 30 Minutes chart shows cloud as immediate support

  • Crude oil 4 hour chart shows price trying to stay above 4 Hour cloud.
  • A Daily close above 50 and 100 Day SMA Will also favor Crude oil Bulls.
  • Possible Fib resistance levels shown in last chart.
  • SPY closes above the resistance zone.
  • Weekly chart shows bulls trying to extend the larger trend. A Weekly close above the resistance zone may lead to bigger up moves.
  • Bears must hope for a negative reaction from the upper bollinger band.


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"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