March 23, 2015

 
  • One hour shows a bullish ascending triangle pattern. Mostly works well for bulls. Weakness in hour chart if price starts to trade below 100 Hour SMA as shown in second chart.
  • 3rd chart shows Gradual up move of ES with Higher High's and Lows. Bulls want this to continue. Bears need to break below the rising support line.
  • FACEBOOK WEEKEND UPDATE
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  • Silver daily near Golden ratio and Daily cloud.
  • Price near 200 SMA.
  • Silver bulls must clear these resistance levels to extend gains.
  • FACEBOOK WEEKEND UPDATE
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  • MSFT Has a bearish pattern in daily chart.
  • Daily chart also shows a death cross. This will be effective till price stays below 50 Day SMA.
  • Price for now is taking support at weekly cloud. Bears need to fall below the cloud for bigger falls to happen. Bulls need to move back above 50 and 200 SMA to negate the bearish patterns in daily chart.
  • CRUDE OIL WEEKEND UPDATE
  • FACEBOOK WEEKEND UPDATE
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  • Last chart the daily time frame is not looking that good for bulls as price is near a resistance line which has worked well so far. 
  • 4 Hour chart shown with the range and cloud. Staying above the cloud may push prices above the resistance levels shown in this time frame But the Daily resistance line may not allow a bigger up move.
  • CRUDE OIL WEEKEND UPDATE
  • FACEBOOK WEEKEND UPDATE
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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