April 19, 2015


  • first chart shows buying opportunities in strong up trend with two crucial moving averages. Dip below 100 SMA has given good buying opportunites. It failed just once when price went below 200 SMA.
  • 2nd chart shows price contraction. Numers in 3rd chart must be broken on closing basis for a directional move to happen.
  • CRUDE Oil Weekend update: CLICK Here
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  • Crude oil daily chart has closed the week outside the range. 
  • Weekly chart is testing 23.6% Fib level which is a possible resistance area.
  • 4 Hour chart continues to look bullish. If the Weekly fibs does not act as resistance crude oil should move higher.



 
  • Facebook daily is tesing 50 Day SMA.
  • Weekly chart shows price falling back into the range.
  • For bigger bears there is no hope as long as 200 SMA Holds.
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  • For TCS its all about the 2400 level. 
  • It was a High volume bearish day. A similar day with high volume was followed by an up move recently as shown in last chart. 
  • So TCS Bears need a weekly below 50 Week SMA and 2400 levels.
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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