May 16, 2014

  • Silver Daily chart shows weakness near confluence of resistance level. 
  • EURUSD Bulls trying to form a bottom above the Support levels discussed in an earlier post.
 
  • ES 4 Hour chart testing crucial horizontal support zone.
  • Price has fallen below the cloud and the rising support line.
  • Daily chart shows price extending weakness and Testing the crucial 38.2% Fib level.

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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