August 17, 2015

  • Silver weekly cloud shows the long term trend safe till price stays below the cloud. For now daily cloud is getting tested, For the bounce to extend price need to move above daily cloud.

  • ES 4 Hour chart shown with immediate resistance level. Crucial support of 50 week SMA in weekly time frame. 

  • Despite the bounce last week price continue to remain below the previous broken support zone. If price stays below this zone new lows are possible. 


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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