May 24, 2014

  • Apple Weekly chart shows price staying above the daily range.
  • Next resistance in weekly chart is at 78.6% Fib level which is at 637
  • Monthly chart too shows the upper bollinger band around the same level as 78.6% Fib so this level may act as resistance confluence. 

  • Crude oil daily chart shows price nearing the crucial resistance zone near 105 levels. Two chances here either a Triple top or a breakout towards 108-110 levels.
  • Weakness only if price starts to trade below 103 levels.
  • A consolidation range at the resistance zone may also give hope for Crude oil bears for a possible reversal.


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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