January 27, 2015

  • Reliance power has moved above the falling resistance line shown  in weekly chart.
  • Daily chart shows a range breakout targeting 68 levels.
  • 68 is former support may act as resistance now. For bigger up moves price must move above the daily cloud 




 
  • Gold Testing weekly cloud. Price is pausing at the cloud and 100 Week SMA
  • For now bulls are staying above 200 Day SMA. Some weakness is seen in  200 SMA. Bigger worry for bulls only if price falls back below 200 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