May 14, 2015

  • Daily chart shows another weak candle at 200 Day SMA. For now its not looking good for Crude oil bulls, But price is yet to violate 20 Day SMA.
  • Close below 4 Hour cloud may confirm weakness for the up move.
  • FACEBOOK Chart analysis: CLICK Here
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  • ES bulls trying for new high's
  • Bears seeing price near Multi week resistance zone.
  • Ascending triangle mostly works in favour of bulls.
  • FACEBOOK Chart analysis: CLICK Here
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  • Last chart shows the daily time frame with a possible Head and shoulders pattern taking shape. Right shoulders may form if there is an up move from the current levels.
  • Right now price is trying to stay above 200 SMA, If successful stock will move towards 83 levels again.
  • Break and close below 200 SMA will make it easy for bears of Facebook to take the stock towards 70 - 73 levels.
  • SILVER Triangle pattern: CLICK Here
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  • Bank nifty daily in a squeeze between 50 and 200 Day SMA. Weekly chart shows 50 Week SMA stopping a bigger fall.
  • The pattern shown in first chart looks Topish But it can work for bulls as well. 
  • SILVER Triangle pattern: 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