June 7, 2014

  • Bank of america testing 50 Day SMA.
  • Daily chart is getting ready for a bearish death cross.
  • Price nearing next fib resistance level of 38.2%. 
  • If price closes the GAP in daily chart without weakness then a bigger up move can happen. If price shows weakness after fading the GAP then selling may resume.


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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