June 17, 2014

  • Crude oil daily chart shows price falling towards previous resistance zone which may act a as support. If price tests this level repeatedly then a bigger correction is possible.
  • Price falling below 4 Hour cloud may give a bigger fall this time.

  • EURUSD Weekly charts pausing at crucial support zone.
  • One hour and Four hour are testing crucial price levels. The signal in daily time frame looks strong so the above support levels may not be held if gets tested again.

  • Bank nifty daily chart is moving in a range of 1000 points.
  • Ranging move is nearing the up trend line from 10064 levels. If the up trend line and the swing low of 14700 is not broken the bulls  are safe.

  • Daily chart shows a Bullish hammer candlestick at 20 Day SMA. Price has to sustain above 20 SMA For a possible up swing to happen.
  • The death cross happened earlier will do well only if price starts to trend down below 50 Day SMA.
  • Weekly cloud is trying to protect bulls from bigger falls.


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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