August 12, 2015

  • EURUSD Descending triangle has given a bullish breakout. But price for now is testing the all important 200 SMA. Pair need to sustain and close above 200 SMA to extend this bounce towards the levels shown in last chart.





  • ES 4 hour chart shows price testing recent support levels. Weekly chart is testing 50 Week SMA. Price also near the lower part of the range. If 50 week sma holds an up move is possible.



 

  • Reliance daily charts shown with possible support levels for the current fall. Daily RSI is highly oversold. Recent up moves happened after positive divergence which is yet to happen.
  • CRUDE Oil trend update
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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