June 1, 2014

  • Facebook Daily chart testing crucial resistance zone and 50% fib level. Need a daily close above this zone to extend the up move 
  • QQQ Daily chart is also testing the swing high. Weekly chart though is looking slightly bullish with the Highest closing high's.
  • Facebook and Apple are testing crucial resistance levels. closing above these levels favor bulls of QQQ, Apple and Facebook.

  • Bank nifty weekly chart shows a  bearish engulfing pattern.
  • Daily MACD is looking weak
  • Crucial levels for next week is 20 Day SMA and 38.2% Fib level. Closing below these levels may extend the correction in BN.


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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