June 19, 2015

  • EURUSD Testing crucial resistance zone in daily time frame. Price also near 200 Day SMA. Pair should either do a big breakout here or a Double top like correction. 
  • Reliance moves above the 940 resistance zone with good volume increase. As can be seen from the weekly line chart price is moving into a bullish zone out of a weekly range. Last time it did this the stock moved past 1100 levels easily before falling again. This time too if resistance levels like 1000 and 1030 are crossed chances for a bigger up move exist. 
  • Ascending triangle of REIANCE INDUSTRIES
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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