May 11, 2015

  • Crude oil 4 hour chart price contraction in a triangle pattern. Price is stuck between 200 and 20 day sma. Daily close above or below these lines may give good direction for Crude.




 
  • Silver daily and weekly chart shows price contraction and may result in bigger moves soon. 200 Day SMA is the immediate resistance line in daily chart. Silver bulls need a close above this line for a breakout in their favour.



  • Infosys is testing crucial price pivot zone (1890-1930). This area has acted as both resistance and support earlier.
  • Price in weekly chart is nearing the cloud which gave support for the earlier fall. But for a decent bounce to happen price need to stay above 200 SMA. 


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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