January 23, 2015

  • Gold Hour chart shows price with shaded support zone. Price falling below this zone may give bigger correction.
  • Weekly resistance levels are yet to taken out by bulls. Gold bulls need a weekly close above these levels.

  • SBI Testing recent swing high.
  • Daily macd shows bullish signal. Price closing above the swing high may extend this up move.
  • Weekly though is showing negative divergence which is negative in the Medium term.


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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