April 15, 2015

 
  • Crude oil shows bullish price action
  • Bulls need a daily close outside the range.
  • Bears had a violation below the range but they did not get a daily close and price came back into the range. So bulls need a close above the range.
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  • ES daily and 4 hour at crucial resistance levels. Above the triangle resistance line the daily resistance levels will get tested. Unable to sustain above the falling resistance line may favour bears to keep price in this range.




  • Signs of a real recovery and not a Dead cat bounce can be seen if price starts to stay above 50 Day SMA. 
  • For a trend change in daily chart needs price to break and stay above the cloud.
  • Weekly MACD Looks promising for Bulls, This set up needs price confirmation.
  • RELIANCE INDUSTRIES Trend 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