March 7, 2015

  • Google hits the weekly resistance line
  • Daily MACD Histogram shows negative divergence
  • Daily chart is showing weakness. But price for now is staying above 200 SMA. Bigger weakness only if this line is broken on closing basis.

  • Facebook is showing weakness at weekly range Top.
  • Daily chart is moving down after a Bearish PIN BAR Candle. Next crucial support level is at 78. More weakness if 78 level is gone on closing basis.
  • GOLD Nearing weekly lows

  • Crude oil daily continues to move in a range.
  • For crude oil bulls price need to sustain above the daily cloud and the range for a reversal to confirm.
  • Range breakdown should take price below 40 levels.
  • GOLD Nearing weekly lows

  • Gold is testing golden ratio in Monthly chart.
  • 4 Hour chart shows a range breakdown. Price has almost reached its target for this time frame.
  • Weekly lows are crucial to held. Gold bulls are hoping that price stays above the recent weekly low level which is shown in chart 2.


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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