October 29, 2014

  • Hourly chart continues its trending move above the Ichimoku cloud.
  • Price is staying above 50 Day SMA.
  • Hope for bears in the Resistance levels shown in first chart. Weakness here may lead to a correction. But first Hour chart needs to break below the cloud for a possible bearish trade to happen.


  • Weekly and Daily are testing resistance lines. But no alarms for Bulls yet as price is not showing weakness.
  • Positional support for BN is around 16220 - 16260 region and the GAP as shown in second chart.
  • Daily MACD is showing negative divergence. But both MACD and Price yet to show sell signals.
  • CRUDE OIL MONTHLY Chart analysis


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"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