May 2, 2015

  • The falling weekly resistance line from 568 levels has saved bears for Now. But the threat of a big breakout is not over yet. If the rising support line saves bulls then another attempt can be made;.
  • Bulls need to stay above 380 levels on closing basis to confirm big strength.
  • For bears the need to stay below that falling resistance line shown in first chart.


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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