February 24, 2015

  • Weekly chart shows the bounce of crude oil loosing strength even before reaching 23.6% Fib level.
  • Daily chart shows price in a range
  • Price continues to stay below daily cloud. More strength only if price is able to stay above the cloud.

  • ES Daily chart shows price above the Big rang.
  • One hour chart shows previous resistance level acting as support. These levels must hold for bulls to gain more strength.
  • Weakness if price falls back below the One hour cloud.


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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