March 15, 2015


  • Rising 50 Day SMA and Previous resistance level at 119.75 are immediate support levels.
  • Price for now has taken support at 38.2% Fib level. More weakness when this level gets violated.
  • Last chart shows the negative divergence which has led to this correction. Weekly divergence like this one usually results in bigger falls. Bears need to stay below 119 levels for bigger falls to follow.
  • TESLA MOTORS WEEKEND UPDATE
  • CRUDE OIL WEEKEND UPDATE
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WEEKLY CHART
DAILY CHART
  • Tesla Motors is sustaining below the weekly cloud which is good news for Bears.
  • For Bulls immediate level to defend is 185, But more crucial level to protect is 177 which is shown in weekly time frame.
  • For next week below 185, 177 is possible. Bigger falls only if 177 goes on closing basis.
  • CRUDE OIL WEEKEND UPDATE
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  • Last chart shows weekly time frame. Weekly candles continue to be bearish. For next week if price sustains below 204 levels we may see 197 levels. Weekly chart also shows a perfect bearish reversal set up targeting 197 levels.
  • For Bulls they need to stay above daily cloud and the rising trend line to avoid bigger falls.
  • CRUDE OIL WEEKEND UPDATE
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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