October 30, 2015

  • Silver daily chart shows price getting resisted at golden ratio. Weekly cloud too is acting as resistance as it has done in the recent past as well. Daily unable to sustain above 200 SMA which is another concern for silver bulls.

  • Nifty has violated crucial support zone as shown in first chart. Second chart shows price approaching crucial support zone between 7960 - 8000 levels.


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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