April 8, 2015

  • Silver weekly chart shows weakness at a falling resistance line
  • Daily chart got resisted at 200 SMA
  • More falls if price sustains below 50 day SMA.

  • Crude oil daily chart is showing weakness.
  • IHNS Breakout attempt is looking weak so far. Price need to move up soon to avoid a false breakout.

  • ES one hour and 4 Hour charts are moving sideways in a range.
  • For now price is at the resistance zone of One hour time frame.

  • Price continues to trend down below 50 day SMA and the Daily cloud.
  • Mild strength above 1.10 level. Weakness below 1.07 levels. Possibility of new lows if pair falls below 1.07 levels.
  • For a trend change daily needs to move above the cloud.


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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