March 4, 2015

  • 200 period SMA and Golden ratio are crucial support levels in 4 hour chart.
  • Key resistance at 50% Fib level shown in first chart.
  • Price likely to remain sideways till these levels are held

  • ES bears breaks the Hourly range in their favour.
  • Price extending gains below 200 Hour SMA.
  • Bears need to keep price below 4 Hour cloud for bigger correction to follow.

  • Copper daily is trying to stay above previous resistance zone.
  • Copper bulls must stay above the daily cloud for bigger up moves to happen.

  • ES violates the hourly range. 
  • Price is sustaining below 200 Hour SMA.
  • More importantly price needs to stay below the 4 hour cloud for bigger falls to happen.

  • First two charts shows the bearish channel and Bullish MACD But the crucial chart is the 3rd one were price contraction is happening. If price is able to sustain above the weekly support line it should break upwards. This one will be resolved soon. One can see increased volatility in reliance in the coming weeks.


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"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