May 1, 2015

 
 
  • 200 SMA and Daily cloud acted as stiff resistance.
  • Now the recent support zone is getting violated as shown in 4 Hour chart. 
  • Sustaining below this level may take price towards 1150 levels.
  • Gold testing 200 SMA: CLICK Here
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  • Weekly chart shows price unable to sustain above the weekly range. As price falls back into the range it is nearing crucial technical levels like 200 SMA and 50 Week SMA.
  • Bigger weakness for the stock if week closes below 50 Week SMA. Up trend will remain safe if this level is not breached.
  • APPLE Bearish engulfing: CLICK Here
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  • Bearish engulfing in daily chart is extending into the weekly time frame. One more day left for apple bulls to save themselves from a bearish pattern in this time frame.
  • 2nd chart shows a possible support line which must be held to avoid further falls. Closing below this line should confirm a bearish engulfing pattern in weekly time frame.
  • EURUSD Chart update: CLICK Here
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  • First chart shows price trying to stay above a support line. If price remains within the apex shown in first chart for some more days we may see good directional move out of this pattern.
  • 2nd chart shows support at 100 Day SMA. Nothing meaningful will happen for bears as long as price stays around 100 and 200 Day SMA as seen in the recent months.
  • The up trend is yet to be challenged as price continues to stay above Higher low.
  • EURUSD Chart update: CLICK Here
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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