January 4, 2015

  • Bank of america weekly chart shows a pause or bearish candle at crucial resistance zone of 18 levels.
  • Negative divergence and Broadening pattern also shows a likely bearish move in the coming week.
  • Weakness can be confirmed below 17.60 levels. Price may test the rising trend line shown in weekly chart.

  • Apple weekly chart shows negative divergence with price and RSI. Weakness for divergence can be confirmed only if price starts to trade below 20 Week SMA.
  • Immediate support levels are 106 are and 100 Day SMA.


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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