April 2, 2015

  • Silver daily chart continues to get resisted at 200 Day SMA and Daily cloud.
  • For now price is in a range between 38.2% and Golden ratio.
  • CRUDE Oil support and Resistance levels

  • Crude oil daily chart shows resistance at 100 Day SMA
  • Support is seen at 100 period SMA of 4 Hour time frame.
  • More weakness below Hourly cloud and 100 period SMA.

  • Bears need to break below 50 SMA and 122 levels on closing basis for bigger falls to happen.
  • Bulls needs to stay above 126 levels after breaking triangle resistance line for bigger up moves to follow.

  • ES 4 Hour chart shows price near range support zone.
  • Second chart shows a Descending triangle pattern mostly breaks in favour of bears.
  • Weekly chart shows Negative divergence. For this set up need price action to confirm by closing below 200 Day SMA.


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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