March 10, 2015

 

  • Facebook testing crucial support zone
  • Bulls also trying to stay above 50 Day SMA
  • More weakness on a daily close below 50 day SMA.
  • FACEBOOK WEEKEND UPDATE
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  • Crude oil testing support zone in four hour time frame.
  • If the middle support zone goes price may test the range bottom.
  • Crude oil bulls trying to protect 50 day SMA.
  • ES CHART UPDATE
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  • ES falls below 200 period SMA of 4 Hour time frame.
  • Price now is testing 38.2% Fib level. More weakness if price stays below this level.
  • Staying below the 4 Hour cloud will give chance for bears as price moves back up towards the cloud.





  • Infosys daily chart shows range breakdown.
  • Bulls of Infosys should protect 50 and 100 SMA to avoid a bigger correction. One can see the 100 SMA acting as strong support as shown in 2nd chart. Bears must close below 100 SMA for bigger falls to happen.
  • Weekly MACD Looks good for bears. But this set up need the 100 SMA to break. Close below 100 SMA will help the Weekly MACD Bearish setup



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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