July 2, 2014

  • Crude oil daily chart shows price below crucial support zone.
  • 4 Hour charts too is testing crucial support levels. Daily close below 104 levels may extend correction.

  • Bank nifty continues to remain sideways and also above the up trend line from 10064 levels. Weakness for BN only if price starts to trade below this support line. Closing outside this range may give the next bigger direction. This is a consolidation after an up trend which mostly results in a continuation breakout.


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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