May 29, 2015

  • EURUSD is moving towards possible resistance zone at 1.10 level. 
  • Price is also near 100 Day SMA. More strength for bulls only on closing above 100 SMA.
  • Price for now has taken support at Golden ratio.

  • Crude oil daily trying to protect 50 Day SMA. Unable stay above 200 SMA is negative for crude bulls.
  • Weekly chart shows price moving around 23.6% Fib level. Crude bulls need price to close the week above this level to avoid further weakness.

  • First chart shows the weekly time frame. Price continue to create lower lows and if 311 is not held on closing basis more trouble for Tata steel bulls.
  • Next two chart shows price breaking below crucial levels in daily time frame. No strength for bull till price stays below 333 level.


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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