March 2, 2015

 
  • Gold one hour has fallen below the cloud.
  • Last chart shows a possible support line. Sustaining above this may give an up move. Breaking below this line on closing basis may confirm the bearish views in the first 2 charts.
  • SILVER CHART ANALYSIS
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  • Silver continues to get resisted at the cloud and resistance line.
  • Last chart shows price moving within a range. Bigger moves only when this range gets resolved.



  • GBPUSD 4 Hour chart shows price breaking below the channel.
  • Possible support zone at 1.5320 - 40. This chart shows price moving towards the support zone of a broadening pattern.
  • Last chart shows 4 Hour cloud getting tested. 4 Hour close below the cloud may result in bigger falls for this pair.
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  • Blackberry weekly chart shows a possible Bullish Ascending triangle pattern.
  • Bullishness can only be confirmed on a weekly close above 11.61 levels.
  • Price staying above the weekly cloud is also likely to favour bulls in the short term.
  • APPLE Sell Signal
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  • ES 4 Hour chart shows price nearing the cloud. Volatility is likely to increase as price test the cloud.
  • 2nd chart shows a crucial support resistance zone. Closing below this may confirm weakness in this time frame.
  • Bigger weakness can only be seen if price closes  back into the daily cloud. 
  • If price stays above the 4 hour cloud new high's are possible.
  • Facebook bearish engulfing and Target levels
  • CRUDE OIL WEEKEND UPDATE
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  • First chart shows price contraction. If price respects the up trend line an upper breakout is possible.
  • For now though price is inside the range between 2245 - 2336. 
  • Last chart shows MACD Histogram Negative Divergence. First Divergence worked beautifully for Bears. Current negative divergence is giving a Sideways correction. Bigger moves may only happen when price moves out of the RANGE.
  • CRUDE OIL WEEKEND UPDATE
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  • Daily likely to extend the bullish trend.
  • Bulls need a close above 8996 level to extend the up trend.
  • No weakness seen yet in any time frame.




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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