April 22, 2015

 
 
  • Gold daily continues to show weakness as price nears 200 Day sma.
  • Fib chart shows a range between 23.6% Fib level and 50% Retrace level.
  • 4 Hour chart shows good price action for gold bears But this needs more follow up. Bigger weakness only below 1175 - 1180 levels.

 
  • For this bounce or minor up trend in crude oil the 54 - 55 zone is crucial. Crude oil bears need price to fall back into the range.
  • 200 SMA in one hour chart and 4 Hour cloud are crucial levels to hold above. 
  • Broken range top is trend deciding level. Bulls must stay above this zone to avoid bigger weakness.
  • ES Trend update: CLICK Here
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"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