June 10, 2014

  • EURUSD Daily and weekly chart shows pair moving towards Horizontal and Rising support lines. Bigger fall in EURUSD Only if these levels are not held.

  • Gold 4 hour chart shows price trying to move up is finding 38.2% Fib level as resistance. A stiffer resistance for Gold will be the previous support zone of the triangle around 1280 levels. For  a bigger reversal price must reenter the pattern which is going to be tough for Gold bulls to achieve.

  • Apple weekly chart shows price above the crucial 92 level. Bulls must sustain above this level and 78.6% Fib level for a bigger up move possibly towards 100 levels to happen.
  • Daily chart shows rising support line at 5 Day Low EMA. Daily close below this level will be negative for Apple bulls.
  • Silver is nearing the confluence of resistance in daily time frame. Recent attempts to cross this level has failed.
  • Strength on closing above 50 day sma.

  • Reliance continues to move sideways in a range. 
  • Crucial support in day is 20 Day SMA.
  • Weekly support is at 5 Week LOW EMA. Staying above these levels the up move is likely to continue.


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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