June 30, 2014

  • Gold 4 hour chart shows price moving in a range.
  • 4 Hour cloud may act as support.
  • Daily chart shows price trying to avoid a death cross.




 
  • INFOSYS Weekly MACD was looking good until price hit the 20 Week SMA. Now Bulls here need a close above 20 Week SMA on closing basis for a bigger up move.
  • Daily chart is trading closer to 200 SMA. Unable to close back above 200 SMA means weakness continues for the stock.
  • Most crucial level for infosys to stay above is the weekly range shown in last chart. Staying above this range up moves are possible. 



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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